If a manufactured company get registered in april,10. Can Input service tax can be taken for the invoices of previous year .
9 Replies
Rajesh Kumar
(Advocate- Tax)
(7806 Points)
Replied 02 June 2010
To take credit of inputs/input services, the only requirement is that the inputs/input services have been used in manufacture of excisable goods/output services. When you get registered is irrelevant.
Say, a manufacturing plant is being erected. The plant will get registered when manufacturing of excisable goods will start. However, the plant can take credit of all duties paid on captal goods/services etc. used in erection of the plant.
Murthy B.C
(Excise Officer)
(21 Points)
Replied 02 June 2010
i can`t understand u r registerd wth Central Excise or Service Tax in 2010. if u have Central excise Registration in earlier year then u can take Service Tax credit of privious year bill aslo ( Thats called Cenvat Credit) as per Cenvat Credit Rule 2004
Regads
Murthy B.C
soni chauhan
(Service)
(670 Points)
Replied 02 June 2010
Thanks for reply....
Dear Mr. Murthy
If registered with service tax then input service tax credit can be avail of prevoius years bill.
RAMA KRISHNA
(Sr.Executive - Accts & Preparing for IPCC)
(670 Points)
Replied 02 June 2010
Dear Mr.Soni,
As per my knowlege obiviously u will eligible to take cenvat on your previous bills, if the following conditions fulfilled.
01. The Services/Goods should be in or in relates to manufacturing/output service.
02 Proper Document (input inovice) support should be maintain.
03. The said document shold contain all the details CE/ST reg.no.., Range, etc.,
If Iam wrong, any one correct me.
Madhukar N Hiregange
(Chartered Accountant)
(39034 Points)
Replied 02 June 2010
The stock in hand of inputs / inputs contained in work in progress/ inputs comtained in finsihed goods purchased prior to date of registration would be eligible as long as those goods are tobe sold on payment of duty of excise.
Capital goods not exclusively used in manufacture of exempted goods credit also would be available. The valid invoice reciept at factory and not being ineligible inputs/ cap goods as per defintion shjould be met.
CA.Sonia
(professional)
(517 Points)
Replied 02 June 2010
Hello Everybody ,
1.According to latest amendment even the cashless services (tpa) are taxable and the hospital is required to collect service tax frm the patients and deposit the same/
2.Can the hospital claim cenvat credit on the capital goods which were purchased before the amendment?
Kindly share ur suggestions
Murthy B.C
(Excise Officer)
(141 Points)
Replied 03 June 2010
Hello Sonia
As per my knowledge Hospital can`t allowed Cenvat Credit or Service Tax Credit, Just they r collectting service tax from patients and deposit the same to Department in time only.
Murthi
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