Service tax credit utilization against excise duty payment
Dushyant Shah
(Querist) 22 November 2014
This query is : Resolved
Here under some more clarification:
Credit availed on Input Services shown in ST.3 -Apr14 to Sept14. Can we utilised closing balance shown in this ST.3 - as on 30.09.14 - against liability of CentraL Excise arises on clearance of Finished Goods during Nov & Dec-14.
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Unit having Excise and Service Tax Registration. Unit engaged Manufacturing of Excisable item and also in providing Taxable Services from same premises.
For claiming Cenvat Credit two separate RG23 part II maintained.
Filling periodic statutory returns.
Question: Balance of Cenvat Credit of Input Service available in ST3 can be utilized for to clear monthly clearance of Excise Liability arise due to clearance of manufactured item.
Anirudh
(Expert) 23 November 2014
YES the same can be used for discharging the Excise duty.
T. Kalaiselvan, Advocate
(Expert) 27 November 2014
If you are not satisfied with the above expert's reply, you may consult a local tax consultant for more clarifications/opinions.
