As per Rule 6(3c) of CENVAT Credit rule 2004 an NBFC is being obligated to pay an amount equal to 50% of credit availed.
1) Please let me know while filling ST-3 of an NBFC, in "CENVAT" sheet whether Credit taken on inputes will be shown as only 50% or totally 100% and whether Credit Utilised for payment of service tax will be only 50% or 100% of credit taken?
2)Also please tell me how excess Service tax paid of 1st quarter to be adjusted in 2nd quarter?
whether excess paid challan numbers of 1st quarter will also to be shown in "challan-service" sheet of 2nd quarter?
CAclubindia
