Service tax credit liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 September 2012 Sir,

Service tax credit procidure .

Can i elegible of credit taken when i am recived a bill or after payment of same bill

Example
1-

We have recived a bill no. 1 DT 04.05.2012
and paid 04.06.2012.Pls. confirmed credit taken month

2-

We have recived a bill no. 1 DT 04.06.2012
and advance paid 04.05.2012.Pls. confirmed credit taken month

and also provide notification

CA Nikhil Jhanwar

CA Nikhil Jhanwar (Expert)
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21 September 2012 You are eligible to take credit on the basis of date of Bill even if payment is not made. But in that case payment has to be made within 3 months of the invoice. If not made within three months you will reverse the credit and can take it again one payment is made.