Cenvat Credit

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santosh (Querist)
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05 December 2008 One of My Client is Contractor and providing ONLY TAXABLE SERVICESA. He has having a Cenvat Credit of Rs.250000/- now how he can utilise the same against Service Tax Payble. Please also sugeest how much credit can be utilised in a particular Quarter.
is there a cap of maximum 20 %

Manoj

Manoj (Expert)
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05 December 2008 Your client can utilise the entire Cenvat Credit for payment of Service tax.

santosh

santosh (Querist)
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05 December 2008 Please also sugeest how much credit can be utilised in a particular Quarter.
is there a cap of maximum 20 % of ST payble or He can utilised the same up to service tax payable in a particular Quarter.

CA. Mahesh Agarwal

CA. Mahesh Agarwal (Expert)
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05 December 2008 There is no cap of maximum limit
he can utilise upto the service tax payable

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