Credit of service tax paid under rcm (import of service)
This query is : Resolved
11 December 2012
Dear Friends,
Can we take a credit of Service Tax Paid under reverse charge (Import of services) to pay Excise/Service Tax Liability?
What is the due date for payment of Service Tax on Import of service i.e.whether its a date of invoice booking or date of party payment or 5th following month of Invoice Booking Month?
Can we take a credit of Service Tax Paid under reverse charge (Import of services) to pay Excise/Service Tax Liability?
What is the due date for payment of Service Tax on Import of service i.e.whether its a date of invoice booking or date of party payment or 5th following month of Invoice Booking Month?
12 December 2012
Under RCM, it is the payment date which needs to be consider. Hence 5th of the next month/quarter as applicable
12 December 2012
Dear Vipul,
Is there any time limit of 6 month?
Is there any time limit of 6 month?
13 December 2012
Dear Dasharath,
under RCM (Import of servies) service tax payments needs to be made at the time of making payment to import party, However as per point of taxation rule (POT), this import payment needs to be done with in 6 moths, if that is not happened then POT will be date of invoice and not date of payment. Which will lead to additional burden of payment of interest
under RCM (Import of servies) service tax payments needs to be made at the time of making payment to import party, However as per point of taxation rule (POT), this import payment needs to be done with in 6 moths, if that is not happened then POT will be date of invoice and not date of payment. Which will lead to additional burden of payment of interest
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