Input service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2012
Dear Experts,
We are doing service of repairs of Stabilisers. We are taking input credit of input services.We are also doing trading of components in the same premises.
Can I take 100% input credit on input service. Will the Service tax auditor raise objection as we are carrying on trading activity as well.
Also kind note that we are not availing excise input credit on the components purchased.
Kindly advice me.
We are doing service of repairs of Stabilisers. We are taking input credit of input services.We are also doing trading of components in the same premises.
Can I take 100% input credit on input service. Will the Service tax auditor raise objection as we are carrying on trading activity as well.
Also kind note that we are not availing excise input credit on the components purchased.
Kindly advice me.
27 November 2012
You can claim the 100 % credit on Input Services which are used for providing service of repairing, if the same is falling within the definition of "Input Services" as given in Rule 2(l) of CENVAT credit rules, 2004.
If any input services is used for providing service of repairing as well as trading of goods then you can't claim 100% credit on same.
If any input services is used for providing service of repairing as well as trading of goods then you can't claim 100% credit on same.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
