06 May 2015
Can we adjust the credit of input service tax paid under reverse charge mechanism if we have deposited the same after 30th april but before 6th may, with the service tax liability on output services due on 6th May?
Both output as well as input services belong to April 15.
is it mandatory to deposit the tax liability under reverse charge before 30th April to take the credit of the same for April output service tax liability due to be deposited on 6th May?
06 May 2015
Sir, my specific query is.. if I deposit the service tax under reverse charge today can I take the credit today itself against my output service tax liability?
06 May 2015
in sub-rule (7),- (i) for the first and second provisos the following provisos shall be substituted, namely:- “Provided that in respect of input service where whole of the service tax is liable to be paid by the recipient of service, credit shall be allowed after the service tax is paid: Provided further that in respect of an input service, where the service recipient is liable to pay a part of service tax and the service provider is liable to pay the remaining part, the CENVAT credit in respect of such input service shall be allowed on or after the day on which payment is made of the value of input service and the service tax paid or payable as indicated in invoice, bill or, as the case may be, challan referred to in rule 9:
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