30 March 2010
Q. A person use Excisable material to Built a property & after complition , He rent out such property and collect Service tax on rent under the head " Renting of Immovable property". Can he avail the CENVAT credit of Excise duty paid on Material in payment of Service Tax?
31 March 2010
The iron and steel/ cement credits are only available to the contractor who engages in a works contract ( commercial construction) to be set off against the ST liability on the gross amount ( no abatement) If the person himslef builds then credit would be denied since he is not using cement for renting.
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