13 December 2010
we have purchased a crane. the compay has raised a separated bill for commissioning and installation of the crane on which it has charged service tax. WE need to capitalise the commisisoning and installation bill. but what are we supposed to do about the service tax portion of the bill. Can we claim service tax credit? if yes, then will it be the same way as excise. i.e. 50% in the first year or the entire amount of service tax credit to be claimed?
CAclubindia
