Credit of service tax paid on input services

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2012 I am enjoying benefit of SSI Notification, upto January 2011 my taxable income is less than Rs.10 Lacs but in feb it crosses Rs. 10 lacs.

Now on crossing the limit of Rs. 10 lacs i have to make payment of service tax on income over Rs. 10 Lacs.

Since i m individual assessee so i have to make payment quarterly, Now my question is for paying service tax i can claim cenvat credit of service tax paid on input services of (1) full quarter (from jan to march) or (2) for feb & march since income cross Rs 10 lacs in month of feb.(3) there is any other option.

please reply soon experts.

CA Nikhil Jhanwar

CA Nikhil Jhanwar (Expert)
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18 February 2012 Cenvat credit of Only Feb & March canbe taken......As per notification No. .6/2005-ST as amended Credit can be taken of input service only when you start paying service tax....