We are 100% EOU and hence we do not charge any Service Tax for services provided to our clients abroad.
However, we end paying huge ST to our vendors, professionals etc.
Can I claim any refund of these ST paid or I have just treat this as an expense in my books.
In future, we will be having revenues from Domestic services and in that case we will be charging ST for these clients. Hence, I believe we will be able to set off ST paid and recd later.
Kindly clarify on the above matter and also my thinking abt the future set off.
CAclubindia
