31 January 2011
Dear sir, What is the treatment for capital goods purchased which have Service tax content can i availed it in full in the first year or 50% which one is right?
31 January 2011
Capital goods credit used for manufacture of excise goods or used for provding a taxable service is eligible for credit @50. For SSI 100% credit is allowed in the year of pruchase. If ST has been charged for the erection/ installation/ commissioning then the 100% of the ST can be availed.
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