12 February 2015
my client is registered under the categary of works contract and service provider. he wants to purchase some machinery for business, my query is whether excise paid on purchase of machinery can be taken as cenvat credit as against service tax to be paid
12 February 2015
Cenvat credit for service tax and excise paid on input services and capital goods is allowed as per cenvat credit rules 2004. So excise paid on machinery is allowed to reduce service tax liability.
CAclubindia
