Rajesh Sharma (Asst Manager-Accounts & Finance) (76 Points)
20 February 2009We have taken laong term Secured loan from our bank towards fulfilling the Working capital Requirement. Interest on the loan charged by bank & Service Tax levied on that. So, the service tax which we paid on interest, can we claim the service tax amount as input credit
LAXMIKANT JAIPURKAR
(Practicing Company Secretary/Tax Consultant)
(403 Points)
Replied 20 February 2009
Service tax paid on input services which used for providing the output services is available.
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 20 February 2009
Yes. Banking service is an input service. You are eligible for credit.
CA. Rashi Goyal
(Chartered Accountant)
(512 Points)
Replied 02 March 2009
If the bank has not charged the service tax separately, but it has debited account by an amount which is inclusive if service tax, then we can take credit on the amount or not
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 02 March 2009
Seek details of service tax charged from the bank, and take credit of that amount.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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