19 February 2009
HI , we are partial service provider & also trading business. So I want to know wether ther is any notification on the same for Service tax Input. As per my knowledge There is only 20% of Payable amount & Input amount which ever is less is applicable.
If it is correct then at the end of the year the balace amount of Input credit how to account?
19 February 2009
This provision clause of 20% stands withdrawn from 01/04/2008 in view of the amended rules, you need to take credit attributable to the taxable services / goods.
a prior intimation to the department that you would be availing this facility of attributable credit needs to be addressed.
CAclubindia
