Excise credit against Service tax liability

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..... Excise credit against Service tax liability
Query (Issue) Started By: - Rudrayani Shedjale Dated:- 27-1-2017 Last Reply Date:- 1-2-2017 Service Tax
Got 7 Replies
Service Tax
Hello we are into works contract business. we have service tax registration. we pay service tax on work contract services provided to our clients. recently we have purchased a machinery for business use on whi .....

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..... ch the supplier has charged us excise.can we take credit of the same against our service tax liability? please guide. Reply By YAGAY AND SUN: The Reply: if this machine is being used in works contract business then you can avail CENVAT credit and adjust it against Service Tax Output liability. Reply By Rajagopalan Ranganathan: The Reply: Madam, As per Sl. No. 12 of Notification No. 26/2012- .....

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..... ST dated 20.6.2012 as amended " construction of a complex, building, civil structure or a part thereof, intended for a sale to a buyer, wholly or partly except where entire consideration is received after issuance of completion certificate by the competent authority you can avail an abatement of 30% subject to the condition that- (i) CENVAT credit on inputs used for providing the taxable ser .....

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..... vice has not been taken under the provisions of the CENVAT Credit Rules, 2004. (ii) The value of land is included in the amount charged from the service receiver. If you provide any other service and the capital goods are used in providing the output service you are eligible to avail the credit. Reply By Rudrayani Shedjale: The Reply: can we avail the the cenvat credit against our service tax .....

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..... liability or is it restricted to 30% only? Reply By YAGAY AND SUN: The Reply: Service Tax credit will be availed on the amount of service tax paid. Reply By KASTURI SETHI: The Reply: I support the views of both experts. Reply By Ganeshan Kalyani: The Reply: Yes the amount paid as service tax is eligible for credit. Reply By Rudrayani Shedjale: The Reply: Thank you very much for this valua .....

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..... ble information.
Discussion Forum - Knowledge Sharing .....

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