12.02._ST
This query is : Resolved
12 February 2009
If an assessee is liable to pay service tax in one quarter & having sufficient CENVAT credit in the subsequent year for the FY 07-08.
My query is can he claim cenvat credit on overall basis or he has to pay the ST in first quarter & then claim for refund by availing benefit of cenvat credit at the time of filing half yearly return?
My query is can he claim cenvat credit on overall basis or he has to pay the ST in first quarter & then claim for refund by availing benefit of cenvat credit at the time of filing half yearly return?
15 April 2009
The provisio to Rule 3(4) requires that while paying service tax on output service, the CENVAT credit shall be utilised only to the extent such credit is available on the last day of the month/quarter as the case may be. CENVAT credit cannot be clained on overall basis, for example in the first quarter there is service tax payable and in the second quarter there is CENVAT credit, for the same first service tax has to be paid for the first quarter.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
