Credit of service tax
This query is : Resolved
varun bansal
(Querist)
20 September 2012
An assessee has two type of business/Profession.For one of them he takes input services(Input service tax).For other he is liable to charge service tax(Output service tax).My question is that can he adjust input service tax of one business with output service tax of other.Or there is any rule that we can utilise input service tax only if such input service is used in providing output service.If you require any clarificatoion regarding my question please reply
Amol S Joglekar
(Expert)
20 September 2012
Taking the businesses as proprietory....... Unfortunately Service Tax is taking a very narrow VIEW in such a cases. Nice you opened this query... Let me add... even within a single business having 2 lines of activities .. AUDIT fee paid for the entire business... they are not allowing the input credit... Even on proportionate basis) Solicit your views.
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