15 March 2017
Cenvat credit(input) of any declared service taken can be adjusted with service tax to be payable..
Previously SBC cannot be adjusted with Cenvat taken.. Now Still SBC cannot adjusted but now, KKC can be adjusted..
(ie., ST+KKC=14.5%)..
Please provide me the supporting where I can find this provision..
18 March 2017
Notification no. 28/2016- Central Excise (N.T.) allows CENVAT credit of KKC paid on input services to a service provider. The notification further provides that CENVAT credit of any other duty will not be allowed to be utilized for payment of KKC and only CENVAT credit of KKC paid on input services can be utilized only for payment of KKC on output services. A manufacturer is not eligible to claim CENVAT credit of KKC.
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