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cenvat credit

Paras (Accountant) (27 Points)

26 July 2010

can cenvat credit of excise will ber used as credit in service tax and how?

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CS Vijay Daxini (At Practice) (732 Points)
Replied 27 July 2010

cenevat credit means credit of excise duty paid on inputs and capital goods and additional duty of custom and service tax on inputs and input services ....and there is no need of one to one corelation credit of excise duty can also be used for paying service tax on taxable services.....thanks

regards

vickky9384

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Prabhat Kumar (Advocate & Consultant) (1912 Points)
Replied 27 July 2010

once the Cenvat Credit be taken, the same can be utilise for the payment of excise duty or Service tax on any output service.Rle 3 (4) of the Cenvat Credit Rule 2004.