16 August 2010
Mr.A is in the business of puchasing computers from HCL for which he is paying Excise duty. And he also has to pay service tax in his other AIRTEL business. Now my querry is, can he take the credit of excise duty paid on HCL comp. for the payment of service tax for his airtel business?
16 August 2010
cenvat credit on capital goods (P&M only) can be availed. I mean purchase of non-capital goods items does not entitle assessee to avail cenvat credit for relinquishing service tax liability.
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