ST CENVAT Credit

This query is : Resolved 

19 September 2008 Dear All,
I m in Service providing Company (providing taxable services only) & wants the amount of CENVAT credit by following figures:-

In Aug. month I have received ST amount = 2000000
ST receivable = 5000000
CENVAT on capital goods = 40000

Plz tell me for how much amount i can avail ST credit and how much amount i will have to pay. tell me rule no. if possible.

Thanks,
Anuj

19 September 2008 On capital goods you can claim cenvat credit only 50% in first year and balance 50% next financial year.

Then S.T always paid to government based on receipts of S.T and not the charge to client.




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries