Indirect tax
ABHILASHA CHATURVEDI (Student) (139 Points)
22 March 2017ABHILASHA CHATURVEDI (Student) (139 Points)
22 March 2017
ABHILASHA CHATURVEDI
(Student)
(139 Points)
Replied 22 March 2017
My second query is, the said company pays service under RCM on GTA and Security services can it use the service tax paid as cenvat credit balance..I hope I have made myself clear . Waiting for your response.
Rakshit
(practising)
(338 Points)
Replied 28 March 2017
As regards first query, the input tax credit balances whether CENVAT or VAT got automatically will be transferred provided they were proper under the then Rules/Law.
As regards second query, the tax paid under RCM can be availed as Cenvat credit, provided such services fall under the definition of Input Service given Under the Cenvat Credit Rules, 2004. Accordingly if any Service Tax paid under RCM on Outward GTA beyond the place of removal would not be eligible for credit.
Raksh*t
9810525780
Rakshit
(practising)
(338 Points)
Replied 28 March 2017
As regards first query, the input tax credit balances whether CENVAT or VAT got automatically will be transferred provided they were proper under the then Rules/Law.
As regards second query, the tax paid under RCM can be availed as Cenvat credit, provided such services fall under the definition of Input Service given Under the Cenvat Credit Rules, 2004. Accordingly if any Service Tax paid under RCM on Outward GTA beyond the place of removal would not be eligible for credit.
Raksh*t
9810525780