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Discharging of service tax liability against Cenvat credit , Service Tax |
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Discharging of service tax liability against Cenvat credit |
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1. Can a mfg. co. discharge its service tax liability by debiting in Cenvat credit account ? Co. wants to avail 75 % abatement. Manoj
Posts / Replies Showing Replies 1 to 1 of 1 Records Page: 1
Availing the 75% deduction is possible as long as the declration of non availmentof credit / Not 12/2003 exists.
It should be possible to utilise the cenvat credit for payment of the freight liability, however there maybe a question of how input services are used to pay for liability on input servcies.
Practically we suggest to pay the same in cash and avail the credit immediately.
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