Hi All,
Shall we take Input Credit of Service Tax we paid under Reverse charge mechanism for whatever service Eg: Rent a Cab,GTA
3 Replies
CA girl
(Article Trainee-CA Final)
(1942 Points)
Replied 12 August 2013
Hey, Yes you can take input credit for ST paid under reverse charge mechanism.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 12 August 2013
The credit for payments made by you under reverse charge is available against your challan provided the sameis eligible. GTA outwards is available only in certain circumstances- however other GTA payments inwards/ intermediate credits are available.
Rent a cab is under joint charge and as on date it is not eligible.
prithviraj mohandoss
(Finance associates)
(143 Points)
Replied 12 August 2013
Sir, With regard to Rent a Cab, if we are ineligible to avail cenvat credit, Apparently money goes out of our pocket for Rent a cab RCM.. Please clarify
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