Amit Prakash Singh (Accountant) (295 Points)
22 February 2011Dear all expert
We purchasing finish product from exemption base area vendor wide notifiction 49/50 /2003 dated 10/6/2003 .we recive that material without excise .we further transfer this to our branch without excise (like trading) .can we take cenvet credit (of input service tax) of that good on which we pay service tax on behalf of transport.
ULPI GUPTA
(Manager Accounts and Finance)
(32 Points)
Replied 22 February 2011
Dear Amit ,
You can't avail cenvat credit asthe goods are purchased for the purpose for trading.
Arun Kumar Singh
(GST Advocate)
(15220 Points)
Replied 22 February 2011
you can't avail cenvat credit.
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 23 February 2011
Only a manufacturer os excisable goods or provider of taxable service can take cenvat credit.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 26 February 2011
49/50 are exempted units and hence no excise duty is charged,
when no excise is charged, no input credit available to buyers.
CAclubindia
