23 March 2013
My Partnership firm is having Service Tax category under "Management or business consultant service, Maintenance or repair service, Construction services other than residential complex including commercial/industrial building or civil structures, Transport of goods by road/goods transport agency service, & Construction of residential complex service"
Advances against booking of flats have been received from the customers with 75% abated ST and ST collected @ 3.09%.
Our Contractors engaged for construction has charged the service portion @ 12.36%.
Question : I want to take the input credit of Service Tax paid @ 12.36% to contractors against the Service Tax collected from customers @ 3.09% for the quarter ended on March'13. Can I do so ?
23 March 2013
Yes. After 01-07-2012, any person providing services of construction of residential/commercial building and availing abatement is eligible for availing cenvat of Input services.