Service tax input credit
This query is : Resolved
27 March 2016
My qus. is.
Suppose service is provided in future but service provider issued invoice with full value today and mention service tax on invoice on full value. On the invoice it is mentioned that 50% amount is payable as advance and balance after providing of service (Service receiver paid 50% amount as advance with service tax on that 50% amount).
1. In that case whether service receiver is entitled to claim full cenvat credit i.e. 100% or only 50% because he had paid only 50% service tax.
2. How much amount service provider is liable to deposit regarding service tax whether 50% or total service tax (he has only received 50% amount of service tax from service receiver.
Suppose service is provided in future but service provider issued invoice with full value today and mention service tax on invoice on full value. On the invoice it is mentioned that 50% amount is payable as advance and balance after providing of service (Service receiver paid 50% amount as advance with service tax on that 50% amount).
1. In that case whether service receiver is entitled to claim full cenvat credit i.e. 100% or only 50% because he had paid only 50% service tax.
2. How much amount service provider is liable to deposit regarding service tax whether 50% or total service tax (he has only received 50% amount of service tax from service receiver.
27 March 2016
it advised to issue invoice only for the advance received as it will avoid creating further complications.
incase invoice issued for the full amount but amount is received only 50% then for the remaining 50% amount has to be received within 30 days otherwise the service provider is liable to pay service tax on the unpaid 50% amount.
regarding cenvat, assessee is eligible only to the extent of taxes paid by him not on the invoice amount.
incase invoice issued for the full amount but amount is received only 50% then for the remaining 50% amount has to be received within 30 days otherwise the service provider is liable to pay service tax on the unpaid 50% amount.
regarding cenvat, assessee is eligible only to the extent of taxes paid by him not on the invoice amount.
Message likes :
1 times
30 March 2016
Sir my further Qus. is
if service provider issue a proforma invoice with service tax amount at the time of contract and we paid 50% amt.including ST on the basis of that proforma invoice. now can i claim service tax input credit of 50% of service tax still we have not received actual invoice ?
if service provider issue a proforma invoice with service tax amount at the time of contract and we paid 50% amt.including ST on the basis of that proforma invoice. now can i claim service tax input credit of 50% of service tax still we have not received actual invoice ?
30 March 2016
You can claim only 50% of input services....
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
