Urgenr -man power supply
This query is : Resolved
18 April 2014
if service provider liable to pay ST on 25% (MAN POWER SUPPLY) ammount under revers charge machanism and remaining 75% in that case SERVICE PROVIDER CAN AVAIL CENVAT CREDIT @12.36% OR NOT ?????
plZ REPLAY
plZ REPLAY
19 April 2014
Service receiver can claim 100% cenvat credit evem if 25% is paid by service provider and 75% i paid by service receiver.
19 April 2014
I M telling about service provider that suppose he booked 100000 as income chrged from service receivers and servce provoder paid st on 25% ammount and remaining by servc recevr and in that situation either reversal of income to be done by servc provider or servc provider issue credit note to receiver than in that case servc provider can avail either 12.36% or on 25% ammount only??
19 April 2014
I M telling about service provider that suppose he booked 100000 as income chrged from service receivers and servce provoder paid st on 25% ammount and remaining by servc recevr and in that situation either reversal of income to be done by servc provider or servc provider issue credit note to receiver than in that case servc provider can avail either 12.36% or on 25% ammount only??
21 April 2014
Dear Mr Hasan
The service provider is paying Service tax on output service.He cannot avail the service tax paid on output service as input credit.
Now the second point is Income is 100,000 ,i am assumung that value of taxable service is 1,00,000 and service tax theron shall be 25%of 12.36%=3090.So total amount charged from service receiver shall be 1,00,000+3090=103090.The remaining 75% service tax i.e.9270 shall be paid by service receiver himself via challan to goverment.
The service provider is paying Service tax on output service.He cannot avail the service tax paid on output service as input credit.
Now the second point is Income is 100,000 ,i am assumung that value of taxable service is 1,00,000 and service tax theron shall be 25%of 12.36%=3090.So total amount charged from service receiver shall be 1,00,000+3090=103090.The remaining 75% service tax i.e.9270 shall be paid by service receiver himself via challan to goverment.
21 April 2014
NOW in that situation company has issued debit note to individual of 100000 bill ammount with @12.36% ST. we are noy going to receive that 100000 rs so it issues debit note as i have alredy paid on 100000's 25% as st that whether i can avail credit @12.36 or 3.09????
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
- Tax on capital gains revoked us 54f
- Should I include march foreign salary received in April in my income for FY 2023-24?
- Inventory of finished goods
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- Confusion around Form 26QB fields
- Applicability of Ind As to associate of associate
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Filing of Form 10BB instead of Filing Form 10B
- Sale of property furniture sale
- Refund of AY 22-23
- Last year input claim shown in gstr9
- GST Registration Cancellation books of accounts asked by officer
- TDS Deduction Online Learing Platform
- Point (III) 9 of GSTR-9C
- As per our records, find the below outstanding demand(s)* and interest payable u/s 220(2):
- Regarding transaction th. credit card
- HSN Details in IFF/GSTR-1 & in GSTR 9
- MIS MATCH OF INVOICE NUMBER
- 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
