Edu and SHE utilisation against basic service tax laibility
This query is : Resolved
17 September 2016
Hello Everyone,
Please help me out for resolving my following query.
as per the revised service tax rate no more EDU & SHE is levied on service tax. so mine question is whether cenvat credit of EDU & SHE can be utilised for the payment of basic service tax liability. (EDU & SHE cenvat credit balance pertains to begore March,2015)
Kindly give your valuable feedback through documentary evidence.
Thanks,
17 September 2016
The Central Board of Excise and Customs has issued notification no. 22/2015-Central Excise (N.T.) dated 29 October, 2015 on eligibility for utilization of CENVAT credit of education cess (EC)/secondary higher education cess (SHEC) against output service tax liability by a service provider. The notification allows utilization of EC/SHEC credit balance against the output service tax liability in the following instances:
1. CENVAT credit of EC/ SHEC paid on inputs/ capital goods received in the premises of the services provider after 31 May, 2015
2. 50% balance credit of EC/ SHEC paid on capital goods received in financial year 2014-15
3. EC/ SHEC paid on input services where the invoice, etc. is received after 31 May, 2015
1. CENVAT credit of EC/ SHEC paid on inputs/ capital goods received in the premises of the services provider after 31 May, 2015
2. 50% balance credit of EC/ SHEC paid on capital goods received in financial year 2014-15
3. EC/ SHEC paid on input services where the invoice, etc. is received after 31 May, 2015
18 September 2016
Thank you so much rajannaidu for giving valuable feedback on my query.
kindly please tell what is the treatment if cenvat credit pertains to before March'2015.
18 September 2016
The amount of Cess lying unutilized in the Cenvat credit account of the manufacturers as on February 28, 2015, can not be utilized against payment of basic duty.
However there is possibility to permit utilization of accumulated credit post GST.
However there is possibility to permit utilization of accumulated credit post GST.
18 September 2016
The amount of Cess lying unutilized in the Cenvat credit account of the manufacturers as on February 28, 2015, can not be utilized against payment of basic duty.
However there is possibility to permit utilization of accumulated credit post GST.
However there is possibility to permit utilization of accumulated credit post GST.
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