i received swachha bharath cess on input , this cess may i use for set off against output swachha bharath cess ?? and if it eligible for set off, which column i use for set off swachha bharath cess? if may not be eligible for set off input swachha bharath cess against output swachha bharath cess ,then what procedure i followed?
may i use input service tax for set off with output swachha bharath cess?
19 May 2016
no you cannot take input credit of SWC ... YOU CANNOT SET OFF YOUR OUTPUT LIABILITY OF SWC WITH YOUR INPUTS.....SWC LIABILITY TO BE PAID BY CASH/BANK ONLY.
20 May 2016
Swatch Bharat Cess as per provisions of law has to be paid only in cash - it cannot be adjusted against output tax or SBC Payable. A challan for payment of SB Cess is a must. It has been clarified by notification dated 3rd February 2016 that no input credit can be availed for SBC nor can any payment be made by CENVAT Credit.
In the books of accounts SBC has to be booked as expenses and even the payments made on output service are not CENVAT able.
CAclubindia
