I AM A PROVIDER OF A TAXABLE SERVICE. HENCE I AM COLLECTING SERVICE TAX FROM MY CLIENTS. WHETHER SERVICE TX PAID BY ME IN CASE OF RECEIPT OF TRANSPORT SERVICE IS ALLOWED AS TX CREDIT?
Jagjeet Singh (ca-final) (174 Points)
11 December 2009I AM A PROVIDER OF A TAXABLE SERVICE. HENCE I AM COLLECTING SERVICE TAX FROM MY CLIENTS. WHETHER SERVICE TX PAID BY ME IN CASE OF RECEIPT OF TRANSPORT SERVICE IS ALLOWED AS TX CREDIT?
CA CS Akashdeep Singh
(Practicing CA)
(1394 Points)
Replied 11 December 2009
Yes, payment of service tax in case of GTA by receiver of service under reverse charge is allowed as CENVAT credit
kabirsen
(student)
(251 Points)
Replied 12 December 2009
no....if u r paying at the abated rate of 25%
Satish
(CA Final Student)
(479 Points)
Replied 13 December 2009
Kabirsen,
now the condition is removed and credit can be taken. Earlier, the credit could have been taken at abated rate only if it had been proved that the transporter has not availed any CENVAT credit of inputs & capital goods.
Deepak Tapse
(Accounts Manager - Taxation)
(1771 Points)
Replied 14 December 2009
You can take credit of GTA paid
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