CA lakshmikanth (Chartered Accountant) (238 Points)
02 June 2011We know service tax liability is exempted by way of refund in 100% EOU But in case of service tax paid on capital goods
IS it also eligible for refund ? if elegible for refund then ok .
My question is delyed payment of service tax attract 13% interest then interest portion of service tac liablity is debited to CAPITAL-WORK-IN-PROGRESS.IS IT CORRCT OR NOT
Prakash Mali
(Artical Assistant)
(166 Points)
Replied 02 June 2011
My pt of view is as AS 16 its incurred after assets being redy to use so not capitalised
CAclubindia
