09 March 2011
Is service tax credit allowed from Excise duty and vice-versa ?
And also Can service tax paid on services such as courier services, Chartered accountancy services, travel agency services can be adjusted from service tax liability of an organization. Please reply. Thanks in advance.
10 March 2011
Cenvat credit from service tax can be utilised for payment of excise duty if there a nexus between the input service and manufacture. All the mentioned input services qualifies for cenvat credit. After 01-04-2011 scope of input service is restricted and the above position may be changed.
CAclubindia
