Credit eligibilitiy

This query is : Resolved

Sachin (Querist)
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20 September 2012 Sir,

Service tax credit procidure .

Can i elegible of credit taken when i am recived a bill or after payment of same bill

Example
1-

We have recived a bill no. 1 DT 04.05.2012
and paid 04.06.2012.Pls. confirmed credit taken month

2-

We have recived a bill no. 1 DT 04.06.2012
and advance paid 04.05.2012.Pls. confirmed credit taken month

and also provide notification

GN Patankar

GN Patankar (Expert)
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23 September 2012 You can take credit in the month of May-12 if entry taken into the Books of accounts provided that you have to make payment within three months of credit

advance is not a duty or tax paying documents you can take credit after receipt of the invoice.