Can credit of service tax paid on Input service be used to set off liability of service tax on output service which are not the same as input services......?
2 Replies
CMA.Baskar.V
(Cost Accountant)
(400 Points)
Replied 25 May 2010
Yes, you can adjust..............
For exemple, machinery service provider can take credit of service tax paid on Fixed Telephone bills.
You see input and output need to be same, but the referred input service has to with related to business transactions and output service should cover in your service tax registration.
Somaas Kandan
(CA Final)
(385 Points)
Replied 26 May 2010
Yes, Input Service tax paid can be adjusted with output service tax paid.
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