CENVAT CREDIT

This query is : Resolved

Ajith R Chandra (Querist)
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26 September 2009 Dear Friends
I WORK FOR A CONSTRUCTION COMPANY. AS PER OUR LOCAL VAT THE MATERIAL LABOUR RATIO IS 75:25. WE ARE REGISTERED UNDER LOCAL VAT AND SERVICE TAX ONLY

MY QUERY
1. CAN I ADJUST INPUT TAX PAID ON SERVICES RECEIVED AGAINST OUTPUT TAX PAID ON SERVICES RENDERED

2. CAN IN CLAIM INPUT DUTY PAID AGAINST OUTPUT TAX PAID ON SERVICES RENDERED

PLEASE THROW SOME LIGHT ON THE ABOVE

REGARDS
AJITH

Madhukar N Hiregange

Madhukar N Hiregange (Expert)
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03 October 2009 You could pay ST on 25% utilising the central excise duty on capital goods used in providing the service as well as input services credit. However the input credit would not be available when deduction of 75% claimed for materials.