if we have a turnover of rs 1000 out of which sales are rs 900 and services provided are rs 100.. and we have a service tax input credit of rs 50.. then in what manner are we supposed to take the input credit.. pls explain.. how much input credit can be availed by us??
3 Replies
Shalaka Chawla
(-)
(44 Points)
Replied 08 December 2012
You need to know whether tht input service was for ur sale of goods or rendering of service. Accordingly, credit can be availed.
Priyanka Maheshwari
(Assistant Manager)
(76 Points)
Replied 08 December 2012
If the input service was used exclusively for providing the output service,then 100% credit can be availed. However, if it was a common service, then input service is to be availed proportionately, in this case, 10% of Rs. 50
K. Rawat
(student)
(96 Points)
Replied 12 December 2012
thnks for the help priyanka but can u pls tell me the section??
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