31 March 2009
can you just clarify me wether if we want claim the cenvat credit on service tax our turnover is to be more than one crore.is there any turnover specified in the Act.
31 March 2009
No you just need to be a service provider and providing taxable services and paying service tax.
If you satisfy all these conditions, there is no requirement of turnover in this respect as the finance act does not have limitation, so far you are collecting and paying service tax on the services rendered by you.
However, restriction will fall when you service is of one of the 12 services where abatement has been notified, if you are availing the abatement, then you cannot avail the input service credit.
You may accordingly evaluate your position in the matter
CAclubindia
