Hi to all...we are a service providing company and duly registered under service tax. My question is whether cenvat credit of the excise duty which we pay on capital goods for providing our service can be taken or not in the scenario when we are not registered under excise act...Please reply asap.
2 Replies
Manoj BG
(Tax Professional and in Service)
(1795 Points)
Replied 01 August 2010
YES U CAN TAKE CENVAT CREDIT 50% IN THE YEAR IN WHICH ASSETS PUT TO USE AND 50% THEREAFTER.
REGARDS,
MANOJ
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