Mahesh Babu
(CA Final)
(618 Points)
Replied 13 March 2017
The amount of Service Tax paid under RCM as a Service Receiver, can't availed to take credit for the ST payment.
Only Service provider can availed to take credit for some RCM ST payment upon satisfying certain conditions.
Privenra
(student)
(48 Points)
Replied 13 March 2017
Mr.Mahesh thanks for your kind reply. my doubt is can we take input for the GTA service tax paid, where we used abatement for payment of tax. in the hands of service reciever
Mahesh Babu
(CA Final)
(618 Points)
Replied 13 March 2017
They can avail the ST paid under RCM for GTA with abatement in the following month of Payment made.
But utilaization can be taken only for ST payment as a Service provder
CA V KARTHICK
(Chartered Accountant in Practice)
(506 Points)
Replied 13 March 2017
Tax Credit can be availed if the said GTA Service qualifies as an input Service.
The service tax is to be paid under Reverse charges machanism and the credit can be availed in the month following the month of Payment.
But the credit cannot be utilized for Payment of Service Tax under reverse charge. Therefore if the person is also a service provider / Manufacturer , He can set-off his credit against his output tax liability.
tsudharshan
(excise officer)
(17 Points)
Replied 13 March 2017
sivaram
(Asst Mgr-Taxation)
(6918 Points)
Replied 14 March 2017
GTA paid is generally for freight outwards input credit cannot be availed as it is allowed only upto the point of removal of goods
pdgoenka
(Dy Mgr)
(123 Points)
Replied 18 March 2017
Input credit on ST under RCM can be availed for :
1. Carriage of raw material, semi finished goods to/from job worker, finished goods to own warehouse / depot.
2. Carriage of goods to ICD/CFS/Port meant for physical export
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