monika (clerk) (45 Points)
28 February 2010
Mr.Z is providing taxable as well as exempted services. The value of taxable
services is Rs.10 lakhs while that of exempted services is Rs.20 lakhs. All the
inputs/input services used by him are commonly used in providing taxable as
well as exempted services. The total input credit is Rs.2 lakhs. Find the amount
payable by Mr.Z.
S. Banerjee
(Practising Cost Accountant. Core area- Central Excise. Service Tax Costing system installation including maintenance of Cost Records and Cost Audit and Management Audit mainly Revenue leakages Audit)
(622 Points)
Replied 28 February 2010
Ms. Monika,
Pl see the Cenvat Credit Rule 6(3), it provides three options for those providing taxable services as well as exempted services.
Hope this will serve your purpose.
Thanks,
S. Banerjee
Vipin Gupta
(Practicing Chartered Accountants)
(155 Points)
Replied 01 March 2010
Dear Sir,
The reply quoted by Monika is correct.
Regards
Vipin Gupta
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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