Cenvat credit on reverse charge mechanism
This query is : Resolved
26 July 2012
Dear Sir/Madam,
under this new service tax regime, certain part of the service tax need to be paid by provider as well as by service receiver. My question is that say 50 % need to be paid by the service received under this scheme can be paid through utilization of cenvat credit of 50 % paid to Service Provider.
Further I comes under service tax registration because of reverse charge only under Work Contract services. Under which service category i need to register ?
under this new service tax regime, certain part of the service tax need to be paid by provider as well as by service receiver. My question is that say 50 % need to be paid by the service received under this scheme can be paid through utilization of cenvat credit of 50 % paid to Service Provider.
Further I comes under service tax registration because of reverse charge only under Work Contract services. Under which service category i need to register ?
26 July 2012
No, Cenvat credit can be taken only against output service. here, input service receiver is liable for service tax as a recipient.
Hence, first you will have to pay to the govt and can take the credit of the same against output service.
Hence, first you will have to pay to the govt and can take the credit of the same against output service.
26 July 2012
Mr Amit is right and also there is no category as such earlier so no need of WC actegory now
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
- ITR 2 Short Term gain & Long term gain
- Off Market debit and credit transaction
- Itr 1 processing
- Reporting Income under Section 44ADA
- ITR 1: Details for showing Exempt Income
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Bank Accounts in Balance Sheet for ITR 3
- ITR returnFY25-26
- Short Term Capital gain on shares bought and sold after 2018 onwards
- ITR validation error - Balance sheet is not filled
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
