Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Service Tax credit

29 April 2011

Hi all,

I have received bills of last financial(10-11) year from jobworker today(i.e. 28.4.2011). Can I take credit of service taxx on this?Bills are ranging from Oct 10 to March2011.As these billos are not received by us and this fact arises when we are reconciling the ledger balances.So he has sent duplicate bills today.

I have not accounted for this bills yet. I have to account for this bills in this financial year as I have already paid tds for March.

So what will be the solution

Regards

Vasant

Reply
Follow
Share

5 Replies

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 29 April 2011

you have not mentioned how u are eligible to take cenvat credit on such service tax paid bills as input?

if you are manufacturer / taxable output service provider, then have u discharged the excise/ service tax in "cash" in absence of such bills ?

if yes then yes you can take credit now, but make a note of reasons for late.

Upgrade to CAclubindia Pro. Subscribe Now!

Harpreet (* * * * * *) (1670 Points)
Replied 29 April 2011

agreed with Mr. Sharma

and if you still not filled your service tax return then you can claim in FY 2010-11 too.

CA.VATSAL SHAH (SERVICE) (202 Points)
Replied 29 April 2011

yes you can take credit on payment basis.

Vasant Mudholkar (Manager) (43 Points)
Replied 29 April 2011

Thanks for your replies.

We are manufacturer and registered in excise.

We do not have service tax registration.

Does secnario changes.

Regards and your efforts are appreciated.

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 29 April 2011

Originally posted by : Vasant Mudholkar
	Thanks for your replies. We are manufacturer and registered in excise. We do not have service tax registration. Does secnario changes. Regards and your efforts are appreciated.