X PRIVAT ELIMITED IS INTHE BUSSINESS OF PROVIDING ADVERTISEMENT SERVICES BY WAY OF SELLING TIME/SPACE.
AS PER FINANCE ACT 2012 THE SAIDSERVICE IS EXEMPT FROM SERVICE TAX W.E.F 01-07-2012
AT PRESENT X PRIVATE LIMITED TAKING INPUT CREDIT FOR THE SERVICES USED IN PROVIDING OF OUT PUT SERVICES.
LET US ASSUME AS ON 30-06-2012 THERE IS UN UTILISED CREDIT OF RS.750 LKHS IN THE BOOKS OF X PRIVATE LIMITED.
ALSO ASSUME THERE ARE NO OTHER TAXABLE SERVICES PROVIDED BY X PRIVATE LIMITED.
IN THIS CASE WHAT ARE THE OPTIONS AVAILBLE TO X PRIVAT ELIMITED IN RESEPECT OF UN UTILISED CNEVAT CREDIT OF RS.750 LAKHS AS ON 30-06-2012?
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