Cenvat credit rule

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mani (Querist)
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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)
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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)
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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)
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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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