Dear All
if any vendor Charged the Service Tax @ 12.36% on his invoice after 28/02/2009 but by mistakly we also paid this amount.to vendor
so can we get all input cerdit @ 12.36% those we have paid to vendor.
or only 10.3%
pls reply
Dilip Kadam (services) (119 Points)
08 July 2009Dear All
if any vendor Charged the Service Tax @ 12.36% on his invoice after 28/02/2009 but by mistakly we also paid this amount.to vendor
so can we get all input cerdit @ 12.36% those we have paid to vendor.
or only 10.3%
pls reply
RITESH KOTHARI
(B.COM, FCA, DISA(ICAI))
(778 Points)
Replied 08 July 2009
YOU CAN GET CREDIT OF THE WHOLE AMOUNT OF SERVICE TAX YOU PAID.SIMULTANEOUSLY ENSURE THAT THE VENDOR HAS DEPOSITED THE WHOLE 12.36% SERVICE TAX COLLECTED TO DEPARTMENT.
CA. Rashi Goyal
(Chartered Accountant)
(512 Points)
Replied 14 July 2009
In my opinion it is not required to ensure from the vendor whether he has deposited or not. You have paid to vendor is enough for claiming the cenvat credit.
Satish
(CA Final Student)
(479 Points)
Replied 14 July 2009
Mr. Dilip, First see the period of service rendered. If the service is rendered prior to 24th of Feb 2009 and invoice is raised after the said date, the service tax rate 12.36 is correct. You are entitle to take cenvat credit of service tax actually paid to the vendor. There is no need to ensure whether or not the vendor has deposited the service tax to the credit of Central govt.
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