sachin chhabra (Internal Auditor) (71 Points)
31 December 2013Dear all,
plz suggest me on one thing..my client has received services worth rs.4lacs but didnt pay the billed amt.(generated last year) yet..what shall be the consequences?
we have booked the input service tax receivable on the above mentioned account..we have to make the payment of only the amt. of service tax or what..further service tax amt. shall be payable paid to whom in this case? we are in the mood of delaying the rest of the amt.
and also when we can avail that amt. as input credit?
CA. Kuldeep Singhi
(Entrepreneur)
(424 Points)
Replied 31 December 2013
Provided that in case the payment of the value of input service and the service tax paid or payable as indicated in the invoice, bill or, as the case may be, challan referred to in rule 9, is not made within three months of the date of the invoice, bill or, as the case may be, challan, the manufacturer or the service provider who has taken credit on such input service, shall pay an amount equal to the CENVAT credit availed on such input service and in case the said payment is made, the manufacturer or output service provider, as the case may be, shall be entitled to take the credit of the amount equivalent to the CENVAT credit paid earlier subject to the other provisions of these rules & will be eligible to take cenvat credit further when you will pay the bill amount
CAclubindia
