Our compnay is engeged in road construction as well as mining sector.We were paying service tax on mining activity.
Upto last year our compnay was not maintaing the seprate records of input and consumption.Hence we were paying the service tax by utlizing the CENVAT credit @20% of service tax payable and remainign in cash. So till 31-3-2008, we have very huge balance in CENVAT credit having mix of taxable as well as exempted input service. Now from 01-04-2008, service provider has to opt weather he is to maintain seprate records for taxabale and exepmted service. We have opted to maintain seprate records for taxabale as well as exepted services. Now my question is what would be treatment of Opening Balance of CENVAT Credit? Can we use for payment of service tax or we shoud write off the same or use only 20%

whether cenvat credit of vat and central excise is available in service tax ?

Dear Sir,

My Factories ragistration as manufacterer of Crankshaft. But for a 3 Years we could not take production of Crankshafts. We received Forged Crankshaft from Tata Motors on 57 F ( 4) , and then we are doing job work ( Grinding , Machining, Induction & Hardning ) on crankshaft. At the time of Billing to Telco we are not applying service tax .

My Job Work turnover for the year 2007-2008 around 3 Crore. and also same turnover for the year 2008-2009.

Please give me details , what is the limit of applying service tax. & is it required undertaking for service tax?


Thanks

Vijay

in service tax whether there is basic exemption of Rs.1000000/- for all years or once ? e.g. in F.Y. year 2006-07 my taxable services were 1100000/- but in F.Y. 2007-08 it was 700000/- only so whether i m liable to pay/collect service tax in F.Y. 2007-08...?

Can a bank charge service tax on late payment fees of credt card...??

pls rply soon.....

Can a bank charge service tax on late payment fees of credt card...??

pls rply soon.....

Dear All,

I wish to know whether Service Tax is chargeable on " Machinery Hire Charges". If yes, under which definition.

Specific Types of Machines are,
D G Sets, Tractors, Construction Equipments


Thanks in advance.

CA Anand U Patankar

Gentlemen
x is a pvt ltd co running a convention centre in india. they prepare food at their kichen and serves at the convetion halls. x charges food at per head rate say Rs 500/- per head. they makes \kvat bills and remit the vat at 0.50% compounded rates. they does not pay services tax.
x never is never cateres outside thier premises so they are not coming under the perview of the definition outside catering.
kindly advise me what is the service tax implication on the above trasnasction?

I am running a propriotary firm involved in engineering activities. Thinking that I will cross 10 lac exemption limit, I have charged service tax to client so far. Now itseems that I will not cross the 10 lac limit. My question is

1. Do I have to deposit the service tax component to the govt in future?

2. Can I claim refund of the service tax deposited at the end of financial year if I prove that I have not crossed the 10 lac limit

3. This is my first year of operation. Do I have to pay service tax for entire amount? In forum I have read cotrasting opinion about this. Can enybody give refrence to the service tax rules regarding this matter

Regards,
Yogesh

Can u pls give me info about the Services appliicable for Nov 08 Exams of IDT ... THERE IS A LIST OF AROUND 30 SERVICES GIVEN BY THE ICAI

THANKS A LOT
REPLY SOON

E-MAIL ID: ankit_gupta161@rediffmail.com