Cenvat Credit of Excise Duty paid on Stocks for payment of service tax on renting of Immovable properties

Gaurav Gupta (Chartered Accountants) (87 Points)

05 August 2007  

A person owning a shoping mall and also running showroom of Readymade garments in the same shopping mall and also renting the other shops in the mall to MNC's whether eligible for:-

-- claiming excise duty paid by him on purchase of readymade garments as set off for payment of service tax on rent received by him on renting of Immovable properties i.e. shops of the shopping mall under Cenvat Credit Rules 2004

--Whether the Excise duty paid by him on the purchase of readymade garments as stocks are eligible for cenvat credit as Input under payment of Service Tax.