Service tax credit on capital assets

biren shah (Querist) 06 April 2012 This query is : Resolved
I like to know if person purchase any building for office use. it is under construction. but after june builder give possession.

Now in this assets builder take advance payment, agreement in june.

How person take cenvet credit for this assets?

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C. P. CHUGH (Expert) 07 April 2012
Would depend how the building will be used in providing taxable services against which the input credit is desired to be taken. Also need to check whether abetment of cenvet credit for capital assets like immovale properties is permissible under law.

biren shah (Querist) 07 April 2012
business of coaching institut. and new place also use for the same. in this circumstances as per cenvet credit rules 2012 input credit avail when institute start at new place

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