Suppose 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,
CAclubindia
