Please Help: Credit of custome duty paid
Posted Date : 09-Jan-2012 , 11:37:26 am | Posted By: PANKAJ BANSAL
Category :
Service Tax | Answers :
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Comments :
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If any service provider import a laptop and pay the cutome duty on it, can he take the credit of custome duty paid under service tax act |
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| Posted By : |
13-Jan-2012, 06:34:17 |
| No credit is available for basic custom duty, although additional excise duty portion can be claimed as credit if used for providing output service. |
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| Posted By : Alok Ranjan |
11-Jan-2012, 04:46:06 |
| yes,he can!!! input credit can be claimed in this regard. |
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| Posted By : Rishabh Upadhyay |
09-Jan-2012, 10:07:24 |
| To make it simple with an example, one of our client is a manufacturer of Swiss Watches and also involved in delling the same via its retail chain. So they are entitled to book the "Excise Duty" part in "Custom Duty" and then adjust the same against excise duty payable or service tax payable. |
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| Posted By : Rishabh Upadhyay |
09-Jan-2012, 10:05:25 |
| Custom Duty paid while import includes the Excise Duty in it and not Service Tax. Though Service Tax can be adjusted against Excise Duty, but the assesses need to be a manufactures also for him to be entitled to take credit of excise duty or to adjust it against service tax duty. |
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