27 January 2009
Whether service tax payable(Renting of Construction equipment) is adjustable with the CVD (Imported Cosntruction equipment from italy)which is paid while importing machinery.
19 April 2009
You have imported the machinery by paying CVD
The service provider can avail credit on goods and services subject to conditions that the taxable service is provided and service tax is payable on such services.
In your case since it is your principle business of lending goods on hire, then yes you can avail the credit of CVD
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