04 March 2015
hi, i would like to know what will be effect on reverse service tax. we pay reverse service tax on the transport facilities which we use for employees.
05 March 2015
You will have to pay service tax under reverse charge by bank. You cannot use cenvat for this purpose. After payment of service tax under reverse charge, you can avail the cenvat of the service tax paid under reverse charge subject to fulfilment of the condition that the service falls under the definition of input service for you.
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