05 July 2012
Is builders opting for 4.944% compunding Service Tax catagory are eligible for get the credit of Input Tax incurred by them for sub-contract works while caluculating the service tax liability.
05 July 2012
Yes not only for the sub contractors but also any other Input Service credit as well as capital goods excise duty credit of equipment/ dumpers/ tippers used in the said activity.
Only input credits like cement/ steel etc isnotavailable.
CAclubindia
