Service tax credit

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

22 March 2013 We are registered in both Excise as well as Service tax. We have a credit in Excise whereas we have a liability in Service Tax. Can we use the credit of Excise to offset the liability of Service Tax.

Sumit Grover

Sumit Grover (Expert)
Follow

22 March 2013 Yup...Rule 3 of CCR,2004 allows the same

Querist : Anonymous

Querist : Anonymous (Querist)

28 March 2013 But Rule 3 CCR 2004 does not say the same. In fact it seems to imply you can only use the credit of Service Tax while filling the Excise and not the reverse. Is my understanding correct?

Upgrade to CAclubindia Pro. Subscribe Now!