Dipjyoti Majumdar (CA in service & CS. dipmaj@ rediffmail.com ) (3468 Points)
10 January 2012Suppose I am not registered under service tax laws as my turnover is less than 9 L. But I am booking input service tax as an asset in books of account on use of input service on the assumption that when my turnover exceeds 9L and then may be 10L also (when I shall be charging service tax on output service) and then I can utilised cenvat credit.
Is this permissible .
Regards,
CA Unnikrishnan Nair N
(Chartered Accountant)
(2083 Points)
Replied 10 January 2012
No. Only inputservices used in relation to output service provided after crossing Rs.10L is allowed for credit.
chandra sekar
(Manager-Accounts)
(387 Points)
Replied 13 January 2012
okay sir, but we have crossed the threshold limit, but registration done later, in that case shall we take input credits for the previous dates of registration?
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