What is Cenvat credit and Its role in Service tax.?
What is Cenvat credit and Its role in Service tax.?
Cenvat credit means u can avail set off of service tax paid on input services..Its similar to Cenvat in excise..
You can take credit on input service tax paid when you pay excise duty (if you are a manufacturing com.,) or on output service tax (if you are a service provider).
agreee with Rakesh
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