Cenvat credit on "duty paid" on fg produced and capitalized
This query is : Resolved
15 December 2015
Dear Sir/ Ma'am,
A company manufactures machines which is been sold to customers as well as rented, When the machine is sold duty is being collected, also when rented duty is paid, and when machine is rented the same machine is capitalized, my query is can they utilise this duty. Can they transfer this duty payment on rental machines to RG23C
Thank you
A company manufactures machines which is been sold to customers as well as rented, When the machine is sold duty is being collected, also when rented duty is paid, and when machine is rented the same machine is capitalized, my query is can they utilise this duty. Can they transfer this duty payment on rental machines to RG23C
Thank you
Arun Kumar Singh
(Expert)
19 December 2015
You need to charge service tax on capital goods supply on rent and you can take the credit of input, input services and capital goods used in the providing of output service.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- Capital Gains Tax on Inherited Mutual Fund
- How do you manage client document collection and follow-ups in your CA/CS practice?
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation Error – Mandatory Fields
- IMS (import of goods) ITC related
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
