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Answer Posted / h.r. sreepada bhagi
Service tax is also a levy similar to the Excise (CENVAT) by
the Central Government. Like in CENVAT, Credit entitlement
is available for Service Tax on the Services received. This
credit can be set off against the output service tax and
also against Excise Duty payable as per the provisions of
the relevant Acts.
Here the main difference is CENVAT is applicable on products
and Service Tax is applicable on Services.
For more information refer latest edition of Service tax Act
and Central Excise Act. (CENVAT)
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