We are in to Service Organization and we have huge accumulated credit but we are unable to utilize the same because our monthly liability is not that big to set off the complete credit
Some credit is pertaining to the input invoices of 2012,2013 etc.
In view of recent budget amendments, we need to claim the credit before 31-Aug-14 other wise it will be lapsed.
So wanted to understand what is the real budget amendment for the claiming of CENVAT credit
I believe many companies will have same issue that they might have credit avaialable with them but cannot use it because they might not have liability to set it off
E.g.
Credit Avaialable is say 5 crores and monthlly ST laibility is say 50 lacs. So as per new Budget changes, if one does not use the entire 5 crores credit, it will be lapsed. So in this case we can use maximum 50 lacs so balance 4.5 crores will be lost. Is the understanding correct

What is the real provisions and how can we overcome these situations

Dear Experts,

Please Guide me on following,

under GTA mechanism If a company pays freight than company is liable to pay service tax under RCM. Now if company recovers the amount inclusive of service tax from client without showing service tax separately, than
1.Can still company claim the credit
2.Is it viable that company must show service tax separately so that client can claim same for credit.

Can any one tell me whether there is any abatement in respect of Service Tax for the "Manadp Keepers" (Auditorium) if they are not providing any catering services in their Auditorium??

hi can individual claim input service credit in construction industry as per notification 2012. If yes plz.send me that notification. And what is the meaning of INPUTS in service tax. As per my knowledge INPUTS means input goods and not input services. please clear my doubts.

Under service tax reversal concept if in labour work service provider charge 100% then what are the consequences?? then also service receiver want to charge 25%??

Dear Experts
I have a client and he is doing fabrication job work for a Branded Readymade Garments Firm.
Now I would like to know that, Is service Tax applicable him or not. Because company is deduction TDS on my client u/s 194c (Contractior/sub-contractor)
His receipts for the last year is more than Rs. 60 Lacs.

Client who is state Govt road transport corporation specially engaged in passenger transport i.e public transport company. Corporation has given permission to the various book stalls, fruit stalls, canteen inside the premises of bus stand area and collected "license fee" as rent of such stalls (small shops) service tax is collected under Renting of Immovable property service.

However the corporation is also issuing licences to hawkers (i.e. individual feriwalas) granting permission to sale their goods at bus stand area for a minimum licence fee. Now service tax dept has issued notice to tax such licence fee under ambit of Renting of Immovable Property.
As the corporation is allowing permission only to sale the hawkers good.
No specific place/area is allowed to hawkers.
Objective of issuing such licence is only to facilitate proper administration over hawkers and for effective control over them.
Corporation has prescribed specific dress code to hawkers and given batches to them.
Hawkers are using open land of bus stand and entry to such area is open to common public at large.

Issue is whether Licence fee of hawkers will come under ambit of service tax under Renting of immovable property.

Kind request to all please share your views regarding this issue.

Thanks.

SUDHIR

Can anybody please tell me which is the service tax code applicable for vastu consultation and astrology ???

If service provider charge full 100 % under service of labour contract what are the consequences?? Is any liability arises for 25% for service receiver?

Please give your suggestion whether there will be applicability of service tax on operating of Radio Taxi Segment if :-

1. A Company has made an agreement with the driver that the driver will pay to the company a share of 35% of total running income as per running kilometers of taxi per day if taxi is owned by company or if taxi is owned by driver.