04 December 2008
In our co. We are taking Input Credit on Excise and Service Tax and utilised against Output for Service Tax.
We dont have any Excise Tax Liability.
Our Output Service are charged at different rates 12%(normal Service TAX),4%(Works Contract) & 3.96%(commissioning.& Erection at abated rate).
My issue is that if any capital items is purchased and utilised for all the above services then whether input credit can be taken for payment of above service tax.
CAclubindia
