Import of service
This query is : Resolved
26 March 2012
Dear All,
Can we use cenvat credit to pay service tax liability from import of service?
What is the current rule under cenvat credit.
Can we use cenvat credit to pay service tax liability from import of service?
What is the current rule under cenvat credit.
26 March 2012
No, cenvat credit cannot be utilised for the purpose of discharge of service tax liability under reverse charge mechanism. It has to be discharged by payment of service tax liability in cash only.
26 March 2012
Dear Kartik,
I am totally agree with the Comment of Mr Pankaj but i want add something in that so that u feel less pinch
Whatver cash u pay is available for Cenvat Credit in next month / quarter as the case may be
I am totally agree with the Comment of Mr Pankaj but i want add something in that so that u feel less pinch
Whatver cash u pay is available for Cenvat Credit in next month / quarter as the case may be
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