What is the Section & Notification No . Of Service Tax input credit as per Govt Rule
Originally posted by :PRASAD | ||
" | as per your details regarding service tax credit, can you pl. guide what is the limit time that an assessee can hold the credit and utilize the same after a period of time | " |
Originally posted by :Guest | ||
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Dear Sir I am working for IT industries(Computer Manufacture and Service) and I would like to know what is the time limit to avail facility of Input Credit Can I avail this facility any time during the year? please suggest Ankush
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kailash goyal
(chartered accountants)
(36 Points)
Replied 14 November 2008
my client is an electrical contractor , he is taking benift of 67%and 33% under n.f. no. 1/2006 however he is also providing services as labour work only on which he is paying 12.36% on total contract . Can he avail input credit / cenvet credit on service contract on which 12.36% is being paid on whole value of contract. Service tax dep. is of the opinion that once u exercise 1/6 n,f, option for combined contracrt you are not entitled to input rebte even on those contracts on which 1/6 n.f. i.e 67/33 is not applicable . Let me know the corect positon ?
Nilesh
(Service)
(1422 Points)
Replied 25 November 2008
Dear Ankush,
Reshma.M.D
(Student)
(20 Points)
Replied 25 November 2008
Originally posted by :Rakesh | ||
" | Hello Sir, My question is that if we are providing both taxable and nontaxable service then how we can calim input service tax. | " |
Originally posted by :Guest | ||
" | I have my factory at Vapi for which I have been alloted a Service Tax Regn No., now I want to add a place of business to this regn no. which is located at Mumbai. Can you give me a procedure for the same. Pls revert back at the earliest. | " |
CA Adithya Murali
(Senior Associate Analyst)
(119 Points)
Replied 23 January 2009
X ltd is a hospital.
X ltd collects rent and it is the only taxable service for the hospital. The company also pays rent and takes input credit on the same. Is the company eligible for input credit on other expenses for eg:telephone etc..
Please clarify.
Asif S Dadani
(Partner)
(39 Points)
Replied 23 April 2009
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 24 April 2009
GTA services for trading activity are not eligible input services since they are not used for provding taxable services or not in relation to manufacture or clearacne of excisable goods.
However for GTA realting to the goods used in manufacture input service credit would be available.
Sravankumar Reddy
(Manager-Accounts)
(26 Points)
Replied 04 June 2009
We are constructing a 4star Hotel in Bangalore. We are paying Service Tax to Consultants and Contractors towards Invoices raised by them. Can We take Input credit of the service tax paid? Our Service tax payments are in 2007-2008,2008-09, 2009-10. Commercial operation of the Hotel starts in 2010-2011. Shold we carry forward all the service tax payments to 2010-11 and can we take input credit out of the servicetax sums received by us. Please advice me.
aashu
(A)
(29 Points)
Replied 24 October 2009
Hi
My Ques is Regarding Input of Service tax. can we avail the credit of Service Tax Input of Nov.against the service tax payable for the month of Oct.Will this ans changed if there is No srvice tax Payable for the month of Nov.
sandeep
(accountant)
(22 Points)
Replied 14 November 2009
I made payment to party includes service tax then my business was not working after 4 month I take over new business. its nature of business is manufacturing now can i taking same input credit service tax against output finished goods on excise duty