Admissibility of CENVAT CREDIT of Service Tax
This query is : Resolved
CA. Rishabh Mittal
(Querist)
26 February 2010
Facts of my Query are -
1. Liability to pay Service Tax arose in the month of April 2009. However, Service Tax is paid in the month of Jan 2010 along with interest thereon.
2. CENVAT Credit is available on Input Services received in the month of Jan 2010.
Can I set off the CENVAT Credit which is received in the month of January 2010 from the tax liability of April 09 ?
Thanks & Regards
1. Liability to pay Service Tax arose in the month of April 2009. However, Service Tax is paid in the month of Jan 2010 along with interest thereon.
2. CENVAT Credit is available on Input Services received in the month of Jan 2010.
Can I set off the CENVAT Credit which is received in the month of January 2010 from the tax liability of April 09 ?
Thanks & Regards
CA. B.SRINIVASULU
(Expert)
26 February 2010
Input should arise first and then it should be followed by out put.
In you above case you are quoting out put is first followed by input. You cannot set off.
In you above case you are quoting out put is first followed by input. You cannot set off.
CA Gangadhar Mishra
(Expert)
26 February 2010
no, since the ST return is to be filed half yearly and the liability to pay tax is monthly for company and quaterly for others,so, you can not adjust cenvet cr of jan.10 to that of apr.09
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