Service tax input credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 May 2013 shall i take service tax input credit on the car hire services ? can i adjust this service tax input credit against my service tax liability ?

CA Vikas Acharya

CA Vikas Acharya (Expert)
Follow

16 May 2013 on car hire you have to pay service tax on reverse charge basis,
if you pay 100% tax then yes you can
if tax on 40% value(means on abated value), then you have to pay 40% of that 40% value as reverse charge and then no credit allowed.

in 1st case u can take the credit on the basis of payment challan

Message likes : 1 times