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Cenvat credit of service tax

durgaprasad (accounts executive) (225 Points)

08 July 2016

I need a clarifications about the cenvat credit of service tax. In hotel industry, One of online marketing company has sent a commission summary. In that, service tax, SBC and KKC payment details were therein. We paid the Service tax without utilization of Cenvat credit of Service tax in june, 2016. How can we adjusted of cenvat credit. Can you please guide me ?

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CMA Poornima Madhava (CMA) (13112 Points)
Replied 08 July 2016

If you have already paid ST for Jun 16 without adjusting input service tax credit, then the simple solution is to adjust the same during next month. W.r.t. KKC, you may claim setoff against KKC credit (if any). If not, pay the same. Further, you cannot avail credit of SBC and it has to be paid in cash only.

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durgaprasad (accounts executive) (225 Points)
Replied 09 July 2016

thank you very much for your nice response and can we carryforward of service tax @ 14%, SBC @ 0.5% and KKC @ 0.5% for next month. cenvat credit of 14%, KKC 0.5% to be adjusted in the month of july. Is it right madam.