15 December 2011
Dear Experts 1)Upto how many years we can claim the service tax input credit which has not been claime previous years? 2IS there any limitation for the number of years? 3)Can we take the service tax input credit for paying the excise duty? 4) Suppose for example if that company has not utilised service tax input credit of the previous 2 years can i claim the input credit now to pay the excise duty of the current years?
16 December 2011
Point wise reply of your queiry 1) As such there is no time limit to avail credit of input services but it is advisable to avail the same immidiate or within one year as the same is as good as money which invovles infllow of credit . if you don't avail the same you have to pay tax liability out of tr 6 challan. 2)General time limit is one year but there is no spceific time limit in CCR, 2004. 3) Yes. 4)Avail credit of all input services which you didi not availed. Show the same into your service tax return. File ST 3 showing this credit amount and utilise the same from next month. Please note if you have not filed your ST 3 i.e. service tax return the last date is 26th December, 2012. Hope this is clear.
CAclubindia
