Service tax credit

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P dandekar (Querist)
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10 January 2013 Hello,

I would like to know can we claim input credit of service tax and excise agst excise of mfg goods.
& if yes how do we account it. Can this be explained with an example.

Thanks & regards
P Dandekar

Kaushik Vinod

Kaushik Vinod (Expert)
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11 January 2013 Yes P. Dandekar,

With effect from 10-09-2004 "CENVAT CREDIT" means duty credit on Input and Capital goods and tax credit on Input Services.

Mr. X manufacturing Garments can avail the credit of tax paid on Audit Services by a chartered Accountant for payment of Excise duty on Garments in terms of inclusive parts of Rule 2(l)CCR,2004.

Thanks