Can i take Input Service Tax Credit on Purchase of Technical Know how? and if Yes, up to What extent 100% or 50:50% in two years?

Dear Sir

I have some doubt on Service Tax Rates under composition scheme.

Earlier when Rate was 12.36% it comes out 4.12% (12.36% of 33.33% Value =4.12%)

At present Rate is 10.30% hence It should come 3.43% (10.30% of 33.33% = 3.43%)

But during one discussion I came to know that Rate of Service Tax under Composition scheme is still 4.12%.

Please confirm me whether it is true or 3.43% is correct.

Thanks

Dear Mr. Ravi

If that foreign company is raising a bill of amounting Rs. 1,00,000 then that 1,00,000 will be assumed as including service tax or not inclusive service tax, means what will be the calculation of service tax?

Can we obtain set off on Output Service Tax against Input Excise duty??? If yes, kindly specify the Schedule & Clause No.

Rgds.

In case a foreign company is providing us the services, In this case that company will not charge the service tax then whether we r liable to pay the service tax to indian government for that service.

We are making full payment to that foreign company

My client is a bank.The Bank collects service tax from the customers.However they also pay service tax on Telephone,Courier Services,Audiors Remuneration etc.Now,suppose bank has collected 2000 rs(Two Thousand only) as Service tax and has paid service tax of rs.1133.00(Eleven Hundred Thirty Three)on auditors remuneration.Can bank take credit of all the amoount.Is there any ceiling of Cenvat Credit for banks.I read somewhere that the maximum credit u can avail is 20% of the total service tax liability.Kindly guide in this matter.

Wat does clearing and forwarding operations mean?

On which Services, Service Tax Credit is available in case of a manufacturing Co.?

A company has registered its HO with ST dept. but not the branch. While filing ER-1 return, it has taken service tax credit for ST paid on exps of both HO and branch.
Can the company claim credit for ST paid on exps related to branch?

Now the company has shifted its branch office to another state. So registration of the branch will be at the new location. Can the company any how claim the ST credit for ST paid on exps incurred for branch at old location?

Certain consultancy services were availed at branch office, which was pertaining to company as a whole. Should the ST paid on such consultancy exps be considered as branch exps or HO exp?

Hi,

We Have Service Tax reg. No. under service category of Business Auxiliary Services, basically we trading in cutting Steel coils, now we want to know Which Bills we can take as a service tax set off, please guide us.