Dear All
We have purchased capital goods on which custom duty has been paid. can it be adjusted with service tax payment which is to be deposited by 31 st march 2011.
please reply it is very urgent
thanks in advance
5 Replies
Pinky Agarwal
(Chartered Accountant)
(426 Points)
Replied 28 March 2011
Custom duty can not be adjusted with service tax payment. Only service tax and excise duty paid can be adjusted.
Alok Siddapur
(Consultant)
(229 Points)
Replied 24 April 2011
Custom duty levied under sec 3 of Customs Tariff Act shall be allowed as cenvat credit and can be adjusted in payment of service tax.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 25 April 2011
but CVD is levied in lieu of excise which is an cenvatable duty if the inported goods are capitalized.
Recent Topics
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
Related Threads
CAclubindia
