Can any body suggest me about the reverse service tax deposited by the company and it cannot claim that as input in that month in which it is deposited why...?
2 Replies
Lalatendu Bal
(CA)
(49 Points)
Replied 12 June 2013
i guess ur question relates to utilisation of Input tax credit for the payment of Service Tax on revese basis
if that is so then answer is if a company is paying service tax on reverse basis then it cannot utilise its own ITC for payment of service tax, it has to be paid in cash and it can claim the same as Input
Nirav Worah
(CHARTERED ACCOUNTANT)
(396 Points)
Replied 13 June 2013
Cenvat Credit of service tax paid under reverse charge is avaialable in the month when the service tax has been paid to the credit of the Central government. Credit is availed on the basis of GAR-7 challan.
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