Whether a company (trader in dealing motor vehicles ) is allowed to take input service tax credit or not????????....as it is providing services amounting to 20L approx
1 Replies
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 11 July 2010
Yes it can avail the credit of input services used in providing the taxable services. [ services which are used exclusivley for trading would not be eligible] The restriction for input services used commonly for both trading and services doe snot appear to be in the law. Appears to be an intended silence.
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