17 August 2011
I want to know if there is any change in taken of Service Tax input credit w.e.f. 1st July-2011 (earlier it's taken on payment basis Payment made to party which include ST Input Credit i.e. payment basis
17 August 2011
CENVAT credit in respect of input service shall be allowed, on or after the day on which the invoice, bill or, as the case may be, challan referred to in rule 9 is received
17 August 2011
Thanks again for ur valuable advise
Sir, still i have some query
Example ============ My billing for Aug-2011 is 1,00,000/- therefor my Service Tax liability is come Rs. 10,300/-
on the other hand
I am booking the Vendor bills & suppose my Service Tax Input Credit Rs. 5,500/-
At the end of the month of Aug when i making the payment to ST Dept
Advice me it is the Right method or not for making the Payment of ST Liability
Service Tax payment for Aug-2011 ====================================== Output Service Tax 10,300/- Less: Input Service Tax 5,500/- ====================================== Service Tax Payable 4,800/-
(NOTE : I wanted to know like Output Service Tax on Selling (i.e. Billing basis) it is applicable for Service Tax Input Credit (Input Service Tax Credit on Vendor Bills Booking basis because (earlier it is on Payment basis)
CAclubindia
