Input Credit on Capital Items (urgent PLZ)
This query is : Resolved
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.
PLZ give reference
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.
PLZ give reference
04 December 2008
yes you can take cenvat of excise duty and service tax paid on capital goods.
See CCR-2004
See CCR-2004
05 December 2008
kindly confirm credit is available even it is used for abated rate services..........
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
- Transferring CA articleship from old to new scheme of education and training
- GST Refund SB005 Error
- Notice u/s.148- Asstt.Year 2015-2016
- Invoice Numbers WROGLY ENTERED
- TDS on purchase of value vouchers for employees ?
- PAYMENT TO OPEN AI AND ENVATO ELEMENT
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
