If a contractor received the service tax amount from client
and he also purchase the machinary which is used in
construction, than can he adjusted of service tax amount to
excise duty amount of machinary?
Answers were Sorted based on User's Feedback
Answer / j
service tax is not applicable on capital goods purchase
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Answer / n. pradhan
Yes service tax amount adjusted to Exercise duty
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Answer / nishant thote
Yes, definately. As per CENVAT credit rules this can be
done. For utilising the credit of excise duty for machinery
i.e. capital asset, for the first year one can utilise 50%
of credit for payment of service tax or excise duty.
Is This Answer Correct ? | 2 Yes | 3 No |
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1 Answers Tribeni Constructions Ltd,
Condition 1. If buyer A(in rajasthan) purchase the steel from buyer B(in gujarat. B is a plant of Company. A purchases directly from Plant. A having C form. what would be the tax levied on A. What would be his benefits through C form. Condition 2. If A purchases the steel material by the Company warehouse which is situated in rajasthan. A also is in rajasthan. what type of benefits A gets. Both the parties are registered. which condition is best for purchase either 1 or 2
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