Credit of rcm
This query is : Resolved
04 January 2016
can i avail the credit of RCM service tax?
provided that i have been avail abatement in both services i.e. in construction as well as in goods transport service
provided that i have been avail abatement in both services i.e. in construction as well as in goods transport service
04 January 2016
If you are a service receiver and paying service tax on abated value. Then also u can avail cenvat of the amount paid as service tax under rcm restrictions is applicable on service provider where he can not take cenvat of input services if he is availing abatement on output services.
04 January 2016
what if the service receiver is also availing abatement.
04 January 2016
Under section 68(2) liability of service tax is levied on service receiver in some cases however the basic essence remain the same.for eg A provides services to B and charge service tax on abated portion then Mr. A can not claim cenvat of input services received since abatement is provided to excludes costing on which assessee has already paid taxes. hence 2 option are there either to avail cenvat of service on input services or to avail abatement whichever is more beneficial.However Mr. B has nothing to do whether Mr. A is charging on abated rate or not.same in case where service received is liable suppose Mr. B is liable then he can pay service on abated value,however the chain is same only the person liable to pay is change. then such amount paid will be available as cenvat credit to Mr. B.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Confusion around Form 26QB fields
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
