How can I avail CENVAT credit of service tax?

A cenvat credit case can be taken only with respect to the services availed by the service recipient . Eligibility of Cenvat Credit of input services. Cenvat Credit of Service Tax paid on G.T.A services received in respect of outward transportation of finished goods beyond the place of removal is not admissible. M/s.

When can CENVAT credit be availed?

5 Cenvat Credit on Supplementary Invoice: Cenvat Credit can be availed on the basis of Supplementary Invoice Issued by the Manufacturer or Importer or Service Provider.. – Additional CVD paid on Import of Goods.

What are the duties eligible for CENVAT credit?

CENVAT Inputs Any goods including accessories, cleared along with the final product, the value of which is included in the value of the final product and goods used for providing free warranty for final products; or. All goods used for generation of electricity or steam for captive use; or.

What is the CENVAT credit?

CENVAT means Central Value Added Tax. CENVAT credit is a credit in respect of central excise on inputs purchased for the manufacture or duty paid in relation to the manufacture of the final product.

What are the rules for Cenvat tax credit?

As per CENVAT Credit rules, CENVAT Credit is not allowed when any goods and services are used primarily for personal use or consumption of employees. Tax paid on inputs or input services for providing exempted services is not eligible for CENVAT Credit.

Can a service provider claim a Cenvat credit?

Tax paid on inputs or input services for providing exempted services is not eligible for CENVAT Credit. If service provider has taken CENVAT Credit on inputs or capital goods and then removed them as such from premises then the provider of output service shall pay an amount equal to the credit availed in respect of such inputs or capital goods.

When do you get Cenvat credit for input service?

RULE 4 (7) of the Cenvat Credit Rules, 2004 allows CENVAT CREDIT in respect of input service on or after the day on which the invoice/bill is received.

When do you have to pay back Cenvat credit?

i. 3rd proviso to Rule 4 (7) of CCR, 2004 prescribes that if the payment of value of input service and service tax payable is not made within three months of date of invoice, bill or challan, then the CENVAT Credit availed is required to be paid back by the manufacturer or service provider.