I m referring the Accounts of one Corporate Company where only Service tax Input Credit is taken. No output Service Rendered. only payment made from Corporate unit. No return Is filed for Service Tax. and how Credit can be utilised for Setoff? there is no Cenvat Credit availed? how to utilise the Credit of Service Tax. pls xplain the Norms against which it is Utilised.thanx
24 December 2009
Service tax credit is admissible ONLY where output taxable services exist or manufacture of excisable goods exists. In the query the same is not clear.
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