22 June 2008
Excise duty paid on Capital Goods(50% each in two years) and inputs(as defined in Cenvat Credit Rules)and used for providing output service can be availed as Cenvat Credit. The credit can be utilised towards payment of service tax.
23 June 2008
At the time of payment of Output Service Tax, one is allowed to deduct the Input tax paid on Cenvatable goods used for the purpose of providing output service
Capital goods - 50% in two years Other than Capital Goods - 100%
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