15 September 2009
The activity stated by you may fall under either of the following taxable catagory:-
1. Construction of Residential Complex 2. Commercial or Industrial Construction 3. Works Contract Service
For the 1st two, abetment of 67% in the value of Gross Amount charged is available in lieu of Cenvat on input services and inputs. For the 3rd catagory, you may opt for composition scheme, in liue of the above said cenvats.
In case, you do not take the abetment and / or composition, you are eligible for cenvat inter alia cenvat on inputs and capital goods(i.e. excise duty), subject to fulfilment of other conditions of Cenvat Credit Rules, 2004.