Cenvat credit

This query is : Resolved

Report Abuse Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

21 February 2013 Can we take credit of excise duty paid on repair of plant & machinery. Please provide the link.

Arun Kumar Singh

Arun Kumar Singh (Expert)
Follow

21 February 2013 Input or input services used by the manufacturer, whether directly or indirectly, in or in relation to the manufacture of final products and clearance of final products upto the place of removal, and includes services used in relation to setting up, modernization, renovation or repairs of a factory.

CA Hardik Bunha

CA Hardik Bunha (Expert)
Follow

21 February 2013 yes, you can take credit of cenvat

Upgrade to CAclubindia Pro. Subscribe Now!

Querist : Anonymous

Querist : Anonymous (Querist)

22 February 2013 Thanks, Please provide the link also.

Rajeev Kumar Garg

Rajeev Kumar Garg (Expert)
Follow

26 February 2013 UNDOUBTLY, YOU CAN TAKE CENVAT CREDIT OF EXCISE DUTY PAID ON COMPONENTS OR PARTS USED IN REPAIRING OF PLANT OR MACHINERY @ 50% IN THE CURRENT YEAR AND 50% IN THE NEXT YEAR, AS PER RULE 4 (2A) OF CENVAT CREDIT RULES, 2004. HOWEVER, YOU CAN TAKE CENVAT CREDIT ON SERVICE TAX @100%, IF YOU HAVE PAID ON REPAIRING CHARGES OF PLANT AS AN INPUT SERVICE.
THANKS.
RAJEEV KUMAR GARG
CUNSULTANT & EXPERT IN CUSTOMS, CENTRAL EXCISE& SERVICE TAX.
PH. NO. 7500802402, 9412167133.

Querist : Anonymous

Querist : Anonymous (Querist)

04 March 2013 Thankyou Sir