What is INPUT TAX CREDit ?
This query is : Resolved
28 July 2010
plz explain me
INPUT TAX CREDIT ?
CENVAT ?
WITH EXAMPLE,
MR. A (SERVICE PROVIDER) RECEIVE SERVICE FROM MR. B OTHER SERVICE PROVIDER OF RS. 10 LACS (906618 + 93381)
nOW mR. A PROVIDE SERVICE TO HIS CILENT MR. X AND CHARGED A SERVICE TAX OF RS. 10000 ON A BILL
SO NOW, MR. A PAID = 93381
MR. A RECIEVE = 10000
NOW 83381 IS CREDIT ???
I M CORRECT OR NOT, PLZ EXPLAIN ME IN DETAIL
plz explain me
INPUT TAX CREDIT ?
CENVAT ?
WITH EXAMPLE,
MR. A (SERVICE PROVIDER) RECEIVE SERVICE FROM MR. B OTHER SERVICE PROVIDER OF RS. 10 LACS (906618 + 93381)
nOW mR. A PROVIDE SERVICE TO HIS CILENT MR. X AND CHARGED A SERVICE TAX OF RS. 10000 ON A BILL
SO NOW, MR. A PAID = 93381
MR. A RECIEVE = 10000
NOW 83381 IS CREDIT ???
I M CORRECT OR NOT, PLZ EXPLAIN ME IN DETAIL
28 July 2010
In the above example , you have availed Cenvat credit Rs 93,381 . In order to discharged your output liability ie Rs, 10,000 you can pay this liability ny utilising Cenvat credit. Hence, the unutilised Cenvat credit would be Rs. 83,381/-.
You can refer http://www.dateyvs.com/cenex07.htm for more details
Trust the above useful.
Warm regards
Nilesh
You can refer http://www.dateyvs.com/cenex07.htm for more details
Trust the above useful.
Warm regards
Nilesh
29 July 2010
i pay Service tax on service , what is it called ??
and when i recive service tax on service , what it is called ??
the techinal terms
and when i recive service tax on service , what it is called ??
the techinal terms
02 August 2010
What ever your are paying service tax in out service tax and what ever you are offseting to the payable is called cenvat input on service tax
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