I have the following question, needs expert opinion.
I have raised my bill of Rs. 3,00,000/- on which have charged S.Tax of Rs. 30,900.
Break up of Rs. 300,000/- is as under.
[Rs. 230,000 Fees + 70,000 for materials as unput which is re-imbursed from the party to whom I provide services(Rs. 63000 Material bill + Rs. 7000 excise on Rs. 63000 )+ 30,900 Service Tax)]
Now the question is can I Avail cenvat of Rs. 7000/- which I have paid as excise for material ?
If yes then have I to deposit S.Tax of Rs. 30,900-7000= Rs. 23,900? In this case a further query is that, I have remimbursed the entire amount of Rs. 70000/- from the party and moreover I am eligible for cenvat credit also? Is it proper?
Regards Ketan M Pandya ketan@jdca.in 98240 51280 - Experts may mention his cell no. so that I can call up and talk accordingly.
CAclubindia
