11 October 2012
Cenvat is very much concerned to service tax. Cenvat is nothing but the mechanism by which the amount of service tax paid on capital goods / inputs / input services used for providing outpout services can be set off against the service tax payable on the output services.
For example I rendered a service agsint which service tax of Rs 100 is payable. However for rendering tjis service I obtained a service on which I had paid Rs 20 as service tax. Here I can utilise cenvat credit of Rs 20 and deposit only an amount of Rs 80 with the Govt.
Hope this would settle the querry.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
11 October 2012
thank u very very much sir, can please focus on , when we paid telephone bill of our company , can we utilised the service tax paid on .
CAclubindia
