Input service tax credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 November 2012 Dear Experts,
I am into manufacturing(less than Rs.10 lakh turnover), Trading and servicing.

I have common input service. I want to take input service credit for the purpose of Service Tax.

Can I take 100% input service tax, if not how do I arrive at input service tax eligibility for service provided.

Kindly let me know.

Pradeep Nainawati

Pradeep Nainawati (Expert)
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30 November 2012 You can't take 100 % credit of ST as one of the activity i.e. trading is exempt activity.
Kindly refer to rule 6(2) and 6(3) of CENVAT credit rules 2004 for calculation of amount dis allowable as CENVAT credit.