Service tax Credit
This query is : Resolved
06 August 2010
Dear Friends
We are liable to excise duty
We take credit of service tax in payment of excise duty.
Now the question when we may take credit if
a. we make part payment to a party which cover full amount of service tax.
b. On freight – as the date of payment would be next monts.
We are liable to excise duty
We take credit of service tax in payment of excise duty.
Now the question when we may take credit if
a. we make part payment to a party which cover full amount of service tax.
b. On freight – as the date of payment would be next monts.
06 August 2010
You can take credit only on cash basis.
1. there is no rule for part payment and avilment of credit. You can take 100% credit while making part payment.
2. The credit will be available at the time of payment i.e next month
1. there is no rule for part payment and avilment of credit. You can take 100% credit while making part payment.
2. The credit will be available at the time of payment i.e next month
06 August 2010
is it not tat if i pay part payment only part service tax can be taken as credit?....
06 August 2010
IF a part payment is made to a party )what ever it covers) proportionate service tax credit will be available service tax.
b. On freight – as the date of payment would be next months. . Credit will be available in next month
IF a part payment is made to a party )what ever it covers) proportionate service tax credit will be available service tax.
b. On freight – as the date of payment would be next months. . Credit will be available in next month
07 August 2010
If a am a Service Provider and make a bill of 10,000 with service tax 1030 now party paid only
1. 1000
2.2000
3.5000
What is my tax liability.
I think what is my tax liability the same would be allowe to other to take credit.
1. 1000
2.2000
3.5000
What is my tax liability.
I think what is my tax liability the same would be allowe to other to take credit.
08 August 2010
It is quite simple what ever payment received to the service provider is inclusive of service tax and accordingly service provider is suppose to pay his service tax liability proportionately, irrespective of Service Bill Amount raised.
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