SET OFF OF S TAX
This query is : Open
08 September 2010
WHAT ARE THE PROVISIONS IN THE ACT REGARDING SET OFF OF SERVICE TAX WHEN SAME SERVICE IS USED IN MANUFACTURE OF BOTH DUTIABLE AND NON DUTIABLE GOODS AND BYFURCATION OF SER. TAX IS NOT AVAILABLE. PLS SUGGEST. AND ONE RAW MATERIAL IS USED IN MANUFACTURE OF BOTH EXCISABLE AND NON EXCISABLE GOODS AND DIVISION OF RAW MATERIAL USED IN BOTH KIND OF PRODUCTS IS NOT POSSIBLE THEN HOW TO TAX CREDIT OF EXCISE PAID ON PURCHASE OF THAT RAW MATERIAL?
09 September 2010
according to my understanding,if manufacture exempted and non exempted goods, you need to maintain separate books, or the proportionate amount of credit related to exempted goods need to reverse
10 September 2010
But i dont know how much raw material and services were used in manufacture of excisable and non excisable godds.
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