Service tax
This query is : Resolved
17 February 2012
in case of radio taxi whether service tax credit is available,if yes then what are the rules apply in such cases
please give notifications/rules no.
please give notifications/rules no.
17 February 2012
FOR SERVICE PROVIDER
Pay service tax on the gross amount charged at the current prevailing rate i.e. 10.3%. In such case the service provider is eligible for CENVAT Credit on inputs, input services and capital goods. The service provider can take the excise duty credit on motor vehicles used for providing the services as capital goods credit.
Option – 2
Pay Service Tax on the 40% of the gross amount charged after availing the 60% abatement under Notification No. 1/2006 – S.T In such case the service provider cannot avail CENVAT Credit.
FOR SERVICE RECEIVER
It is no longer available. All bills upto 31.3.2011 credit wouldbe available as per the latest circular. After that not available.
Pay service tax on the gross amount charged at the current prevailing rate i.e. 10.3%. In such case the service provider is eligible for CENVAT Credit on inputs, input services and capital goods. The service provider can take the excise duty credit on motor vehicles used for providing the services as capital goods credit.
Option – 2
Pay Service Tax on the 40% of the gross amount charged after availing the 60% abatement under Notification No. 1/2006 – S.T In such case the service provider cannot avail CENVAT Credit.
FOR SERVICE RECEIVER
It is no longer available. All bills upto 31.3.2011 credit wouldbe available as per the latest circular. After that not available.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Tds on building rent monthly
- RCM INVOICING FROM NOV-2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
