input credit taken ..........................
This query is : Resolved
27 February 2008
Can anyone tell me what procedure should we opt for taking input credit- if a service provider registered under different service & the input services taken for providing output services.because we fill seperate return for each service so Plzz tell me the procedure to take the input credit for each servic seperately.
27 February 2008
separate accounts have to be maintained for input of each service that you are utilising for different kind of output service and you have to file your return accordingly.
if you are providing both taxable and exempted output service then :
i)if you are maintaining separate record for each type of servie you are providing then you can claim it accordingly.
ii)if you are not maintaining any separate records then you can utilise only upto 20% of the service tax liablilty.
if you are providing both taxable and exempted output service then :
i)if you are maintaining separate record for each type of servie you are providing then you can claim it accordingly.
ii)if you are not maintaining any separate records then you can utilise only upto 20% of the service tax liablilty.
28 February 2008
but my query is that if we utilise the input service semueltaneuosly for all output services in the same point of time. then how much & what procedure we opt for taking input credit...........
28 February 2008
You have the option of filing consolidated return for all the services and then you can establish your utilisationa accordingly.
Or you may utilise the entire service tax under one category, this is alos permissible
Else ask your service provider to provide your proportionate bills as per your need
Or you may utilise the entire service tax under one category, this is alos permissible
Else ask your service provider to provide your proportionate bills as per your need
28 February 2008
to get the proportionate bills is not poosible.
For ex. we take the telphone services or uing the cab services & all other services like that then what we do.
For ex. we take the telphone services or uing the cab services & all other services like that then what we do.
05 March 2008
In view of the recent amendment in Union Budget 2008 you can take proportionate service tax credit as per the formula given in the rules
Rule 6 has been amended to incorporate availment of such cenvat credit which is attributable to taxable services which will come into affect from 01/04/2008
Till such time you can utilise only 20% of your service tax liability under any one of the taxable service which is more relevant to the input service.
Sorry to say, but the rules are framed in a manner that cannot be interpreted to meet our expectations, as such we can only follow to the best extent to avoid litigations.
should there still be a need for any additional clarification do let me know
Rule 6 has been amended to incorporate availment of such cenvat credit which is attributable to taxable services which will come into affect from 01/04/2008
Till such time you can utilise only 20% of your service tax liability under any one of the taxable service which is more relevant to the input service.
Sorry to say, but the rules are framed in a manner that cannot be interpreted to meet our expectations, as such we can only follow to the best extent to avoid litigations.
should there still be a need for any additional clarification do let me know
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