26 November 2012
Hi i have a doubt in cenvat credit for a private limited company ,
Here is a problem,
Service tax collected in july is Rs.20000, but not paid till november after that no service tax has been collected, service tax paid on july, august, september on some services like telephone comes to Rs.1800.
Now can we claim Rs.1800 as Cenvat Credit for service tax collected on july, the payment is to be made on november.
26 November 2012
No, You can not claim cenvat credit like this. You have to pay collected service tax in cash (along-with interest) after setting-off cenvat credit available upto the month July only.
CAclubindia
