Cenvat Credit
This query is : Resolved
18 August 2008
A manufacturing concern is paying excise & service tax on its inputs.
But its output is exempt from excise.Also,it is registered under GTA & Business auxiliary services.
Can u please suggest me the alternative action available for the company for availing Input credit.ASAP
But its output is exempt from excise.Also,it is registered under GTA & Business auxiliary services.
Can u please suggest me the alternative action available for the company for availing Input credit.ASAP
28 August 2008
If the out put is "Exempt" then ther is no possibility of getting refund.
How ever as you have mentioned that you are also registered as GTA then you must be paying the srvice tax on out put services for the outword transport. In such case you can uitlise the credit against this thus minimise the imact.
How ever as you have mentioned that you are also registered as GTA then you must be paying the srvice tax on out put services for the outword transport. In such case you can uitlise the credit against this thus minimise the imact.
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