sir ,
We are taxtile mfg co and our plant located at HARIDWAR & which is exempted excise duty , but Service tax GTA we are pay . So Input tax credit will be accumulated .
How we are utilise this accumulated cenvat credit .
Please give your expert advise on this .
SACHIN
Textile Company Seeks Guidance on Managing CENVAT Credit for GTA Services; Experts Advise ISD Registration for Credit Distribution A textile manufacturing company in Haridwar, exempt from excise duty, seeks advice on utilizing accumulated CENVAT credit from Service Tax on Goods Transport Agency (GTA) services. Experts suggest exploring tax planning or logistical adjustments, noting that CENVAT credit generally isn't available when output is tax-exempt. Suggestions include financial planning and considering input service credit distributor provisions. The company clarifies it lacks ISD registration, pays GTA input, and seeks guidance on managing service tax credit, emphasizing the need for ISD registration by the head office to distribute credit, despite the excise duty exemption. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
