ONE OF MY CLIENT HAS NOT AVAILED THE INPUT TAX CREDIT OF SERVICE TAX UNDER REVERSE CHARGE MECHANISM,IS HE ALLOWED TO AVAIL IT IN SECOND QUARTER ON CUMULATIVE BASIS i.e,FOR BOTH QUARTER AT ONE TIME...........PLEASE REPLY ITS URGENT.
SUMIT KASHYAP (DU) (24 Points)
26 June 2013ONE OF MY CLIENT HAS NOT AVAILED THE INPUT TAX CREDIT OF SERVICE TAX UNDER REVERSE CHARGE MECHANISM,IS HE ALLOWED TO AVAIL IT IN SECOND QUARTER ON CUMULATIVE BASIS i.e,FOR BOTH QUARTER AT ONE TIME...........PLEASE REPLY ITS URGENT.
Dinesh CA CMA
(CA CMA )
(130 Points)
Replied 27 June 2013
CA. Kuldeep Singhi
(Entrepreneur)
(424 Points)
Replied 27 June 2013
Ankit Agarwalla
(CA)
(281 Points)
Replied 27 June 2013
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 27 June 2013
As per Rule 9(1)(e) of CCR,2004 Cencvat credit of ST paid on reverse chrge can be taken and utilised for paying ST and Central excise. and there is no time limit prescribed for taking and utilisng the same......so credit will not lapse and can be taken now consolidatedly........
Saurabh Maheshwari
(B.com,ACA)
(5923 Points)
Replied 27 June 2013
As per Rule 9(1)(e) of CCR,2004 Cencvat credit of ST paid on reverse chrge can be taken and utilised for paying ST and Central excise.....and credit will not lapsed even if not taken immedaitely ....aad can be taken in next qtr or any time...
navinkumar naicker
(Article)
(419 Points)
Replied 27 June 2013
Agree with saurabh maheswari can take cenvat credit once the service tax under RCM is paid.
sanjay singhal
(CA)
(987 Points)
Replied 29 June 2013
pardeepkumar
(M.Com)
(35 Points)
Replied 11 July 2016
Can we claim refund of Service Tax paid under RCM
CAclubindia
