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Input credit issue

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(Querist)
02 January 2015 If the creditor payment not within 30 days than service tax input credit taken on bill will be reversed is that true. but what happened if i will be paid to creditor on 4th month
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P V Ram

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P V Ram (Expert)
02 January 2015 Creditor needs to be paid within 90 days. If not paid then, service tax is to be reversed and can be availed when paid. This can be done upto 6 months from the date of invoice. In case you pay the service provider after 5 months, then credit is not allowed.

for example: for an Invoice dt.01.01.2015

Upto 31.03.2015, you can avail credit whether you pay service provider or not.

From 01.04.2015 to 30.06.2015, you can avail credit only if you pay service provider.

From 01.07.2015: You cannot avail credit even if you pay service provider.

Thanks!
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rahul yadu

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rahul yadu (Querist)
10 January 2015 thanks sir its very confusing . P V Ram
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