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input service tax credit

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(Guest)

Can a Company Claim INPUT CREDIT for SERVICE TAX in the Subsequent year. For Eg. A Company has accounted Service Tax Credit for the year April 2007 to March 2008, in the month of March 2008. Can the Input Credit so accounted in March 2008 be adjusted with the Service Tax payments to be made from June 2008 onwards ?



sumit (Accounts Officer) (24 Points)
Replied 21 June 2008

It can take credit of service tax provided service tax charged is undercharged in an abatement (except in the case of GTA)


(Guest)

is there any specific format for input serivce distribution invoice


OFFICESELVA (Service) (515 Points)
Replied 15 July 2008

No format prescribed by the Board.


Suraj (Accounts) (20 Points)
Replied 22 July 2008

Dear Sir,

I am working with tha real esate company, Our main source of incoem is rental on which we charge service tax. our renatl premises are at delhi. our HO is at Calcutta.

Now please advice can take set off of service tax for the expenses incurred in Calcutta against service tax on rental income.

Please advice at the earliest.

Thanks & best regards

 

 

 




(Guest)

Dear Sir,

We are leading trading house and we have to pay service tax on BAS . I want to know weather we can avail set of against our input service credit against our telephone bills, and other services.


OFFICESELVA (Service) (515 Points)
Replied 26 July 2008

You can avail 100% credit provided the telephone and other input services are used for only one service i.e. BAS and no exempted service also rendered from the same premises.


(Guest)

Dear Sir,

We are manufacturing concern, We are paying service tax on Inward Material on 25% of bill amount @ 12.36%. Now we want to know can we take credit of service tax paid on Transportation for inward material

Jayesh Mehta

 

 


OFFICESELVA (Service) (515 Points)
Replied 31 July 2008

From 01/03/2008 onwards, GTA is no longer an input service, Therefore,Cenvat credit cannot be availed.



(Guest)

Hello, can someone explain if a manufacturer can avail Input service credit on security services which are provided during the transportation of raw material (coal) from the coal mines up to the factory via goods train?. The contention of the party is it is essential to post some private security personnel along with the inputs in the train as there are chances that a mojority of the inputs might be tampered with during the journey through the remote areas resulting in considerable loss of input, but  does the railways allow this? isn't it a bit far fetched idea? Please send your inputs along with judicial analysis available on the subject (if any).




OFFICESELVA (Service) (515 Points)
Replied 23 August 2008

There could be no judicial analysis for far fetched ideas, I think.


Rakesh Jain (insurance agent) (104 Points)
Replied 25 August 2008

One of my client provides maintainance/repairing of online leakage sealing. In which he uses his manufactured spare parts / materials purchased.
He bills differently for Spare Parts / Material & Labour charges/ Repairing.
1. On which amount service tax would be levied.
2. If on both the amounts, is there any abatement.
3. Can he claim input credit
4. under which head he should get registered

1. wat would be his maharashtra vat liability

sometimes it may happen that spares and labour charges are billed in one only


shashank (chartered accountant) (20 Points)
Replied 15 September 2008

Dear Sir

The company has provided credit cards to employees which are used for the purpose of petrol expenses, hotel and other travelling expenses. The bank had charged service tax on these transactions including annual membership fees. Can we take service tax credit?

shashank


V.SAKTHI RAJAN (EMPLOYED) (20 Points)
Replied 24 September 2008

Sir. We are involved in manufacturing of  both Excisable goods & Expted and also involved in trading activity. In such case can we avail Service tax credit on services related to Emempted products in trading activity.

 

 

Originally posted by :ajay garg

" No. If manufaturer who is engaged in trading activity, credit will not be available to the manufaturer on which services related to trading activity,

As per the service tax rule, it is clear cut mention that in or in relation of final product. Hence trading goods is not a final product of the manufaturer.

Ajay Garg
J.K.WHITE CEMENT WORKS
"


 




Taxguy (Consultant) (3383 Points)
Replied 26 September 2008

good education and clear discussion.



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