Cenvat credit rule

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This query is : Resolved

mani (Querist)

04 January 2016 Sir,
With ref to above ment. sub. how much amount to be claim under cenvat cerdit.
Exp. if my total tax payable is Rs. 1,00,000/- (On service provide)

And Total service recv. is Rs 3.00 lakh or ST paid rs.42,000/- how many credit available under cenvat.

thanks

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

05 January 2016 Are you providing any exempted service. How can you provide 1 lac out put service by utilizing 3 lacs input service.

CA. Divyansh Agarwal

CA. Divyansh Agarwal (Expert)

05 January 2016 You may set off the st payable of 100000 with cenvat of service tax therby paying balance 58000 through challan. such cenvat shall be claim in st-3 return itself. it is also to be noted that u are required to maintain records & register for taking of ccr. no specific format is prescribed however u may make a register containing service provider name registration no. invoice date invoice no. amount of service tax etc.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

05 January 2016 I agree with the above reply by oversight I have taken service tax payable as service provided sorry for it.

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