Cevnat credit

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Can one avail Service Tax Credit without an invoice having been available?

In my case the Service Tax Credit is taken in the month of February and have recd. the invoice from the service provider in March wherein he has paid to the Govt. the tax w.r.t. services to me in March.

The relevant dates are as follows-

Check Issued by me- 28 Feb

Invoice Date- 4 March

Cheque encashed on- 7 March

The transaction is a very genuine one.

 

Please do let me know if I will be liable to pay Interest and penalty, if any for the above availment in Feb or if Credit can be taken in Feb? If yes, HOW?

Pl. assist.

Replies (2)

If you have only availed and not utilised credit in February you may show this in March when you file the ST 3 Return for October 12 to March 13.

Regards,

Thank you for your reply.

But can you please explain me the difference between the availment and utilisation of credit?

 


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