Input tax credit of service tax paid on purchase of flat.
This query is : Resolved
18 March 2014
A proprietor who is a professional is collecting service tax on its invoices. I want to know if he can avail credit of service tax paid to the builder on the flat that he has purchased..
instead of capitalising the ST paid to the asset (flat), the alternative can be taking credit of it against the STR liability?
Pls clarify. Also if you can quote the section/rule.. will be great..
thank you.
instead of capitalising the ST paid to the asset (flat), the alternative can be taking credit of it against the STR liability?
Pls clarify. Also if you can quote the section/rule.. will be great..
thank you.
18 March 2014
Input service mean any service used by a provider of output service for providing an output service. If input services are not used for providing output services then cenvat credit will not be available.
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