18 April 2014
if service provider liable to pay ST on 25% (MAN POWER SUPPLY) ammount under revers charge machanism and remaining 75% in that case SERVICE PROVIDER CAN AVAIL CENVAT CREDIT @12.36% OR NOT ????? plZ REPLAY
19 April 2014
I M telling about service provider that suppose he booked 100000 as income chrged from service receivers and servce provoder paid st on 25% ammount and remaining by servc recevr and in that situation either reversal of income to be done by servc provider or servc provider issue credit note to receiver than in that case servc provider can avail either 12.36% or on 25% ammount only??
19 April 2014
I M telling about service provider that suppose he booked 100000 as income chrged from service receivers and servce provoder paid st on 25% ammount and remaining by servc recevr and in that situation either reversal of income to be done by servc provider or servc provider issue credit note to receiver than in that case servc provider can avail either 12.36% or on 25% ammount only??
21 April 2014
Dear Mr Hasan The service provider is paying Service tax on output service.He cannot avail the service tax paid on output service as input credit.
Now the second point is Income is 100,000 ,i am assumung that value of taxable service is 1,00,000 and service tax theron shall be 25%of 12.36%=3090.So total amount charged from service receiver shall be 1,00,000+3090=103090.The remaining 75% service tax i.e.9270 shall be paid by service receiver himself via challan to goverment.
21 April 2014
NOW in that situation company has issued debit note to individual of 100000 bill ammount with @12.36% ST. we are noy going to receive that 100000 rs so it issues debit note as i have alredy paid on 100000's 25% as st that whether i can avail credit @12.36 or 3.09????
CAclubindia
