Credit of service tax

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Anuj (Querist)
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29 August 2008 Dear All,
i m in Service providing Co. & Co. raising the invoices with Service Tax @12.36 without bifurcation of Basic S.T. , 2% Ed. Cess & 1% Higher Ed. Cess.
I want to know whether it is overruled invoices
Further i want to know it is compulsory to avail the credit from 12% receivable can adjust for credit of 12% payable & from 2% ,1% receivable can adjust for credit of 2% ,1%

Mitesh Shah

Mitesh Shah (Expert)
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01 September 2008 hi,

1. u have to bifurcate service tax 12% ST, 2%EC and 1% HEC in your invoice and also accounting them differently

2. u take the credit of service tax credit 12% again 12% ST, SC 2% again 2%, and HEC 1% again 1% not viseversa.

As per the service tax act.

Mitesh.