14 November 2009
example, opening balance of cenvat is 100, cenvat credit availed during the month is 50, cenvat credit utilised during the month for clearance of excisable goods is 20, closing cenvat credit balance is 130. if my gross service tax liablity is 200. what amount of cenvat credit can i set off against my service tax liablity? is it 30 (50 minus 20, availed & utilised during the month) or 130 (i.e. closing balance of cenvat at the end of the month) or any other amount? kindly guide me regarding this at the earliest. Thank you. Best Regards. Rajesh
CAclubindia
