Cenvat credit on input services

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2013 We have Rs.18540/- cenvat credit on rent paid but we are provided 3 services i.e Maintenance & repair,consultant,& information technology.
Please tell how we set off this cenvat credit in the return

vikas Manglani

vikas Manglani (Expert)
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26 June 2013 You can apply some reasonable basis like ratio of output service tax relating to abobe services

PAWAN KUMAR

PAWAN KUMAR (Expert)
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26 June 2013 In service tax return please set off this amount where service tax paid details is filled. i.e. service tax paid in cash, in cenvat.

Exp.:
Cenvat credit 18540/-
Liability -m&r - 1500
Liability - con.-2000
Liability - IT - 500

Net Liability - 4000

Please fill in M&R Portion
Service tax paid through cenvat - 1500

Please fill in Consultant Portion
Service tax paid through cenvat - 2000

Please fill IT Portion
Service tax paid through cenvat - 500

In cenvat abstract, this amount of cenvat utilzed should be tallied with all three portions above.

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Querist : Anonymous

Querist : Anonymous (Querist)

27 June 2013 if service tax output liability is more than cenvat credit then how we set off this cenvat credit .

PAWAN KUMAR

PAWAN KUMAR (Expert)
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28 June 2013 Dear friend,

If your output liability is more than the cenvat available, the extent of excess liability towards cenvat available would be paid in cash and accordingly shown in st3 return "service tax paid in cash".

Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2013 But sir i want to know how we proportionate this cenvat credit in the services tax return against the 3 output service tax. let take an example :
cenvat credit -18000
Tax paid details:
Maintenance & repair services - 20000
consultant service - 18000
IT service - 15000
Please give answer how to proportionate the cenvat credit against the tax paid.

PAWAN KUMAR

PAWAN KUMAR (Expert)
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29 June 2013 You can set off the cenvat available towards any of the output service tax liability and remains you have to pay in cash.