XYZ Ltd is a company in service sector and paying service tax on its output services.
The company is constructing a buiding and incurring cost for raw material.
Please clarify whether excise duty paid on raw material for constrution shall be allowed as Cenvat Credit which can be adjusted with output service tax payable.
04 August 2010
No, Excise duty paid on buidling raw material is not allowed to adjusted with output service tax payable. it will be part of builidng cost.
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