Credit of service tax
This query is : Resolved
29 August 2008
Dear All,
i m in Service providing Co. & Co. raising the invoices with Service Tax @12.36 without bifurcation of Basic S.T. , 2% Ed. Cess & 1% Higher Ed. Cess.
I want to know whether it is overruled invoices
Further i want to know it is compulsory to avail the credit from 12% receivable can adjust for credit of 12% payable & from 2% ,1% receivable can adjust for credit of 2% ,1%
i m in Service providing Co. & Co. raising the invoices with Service Tax @12.36 without bifurcation of Basic S.T. , 2% Ed. Cess & 1% Higher Ed. Cess.
I want to know whether it is overruled invoices
Further i want to know it is compulsory to avail the credit from 12% receivable can adjust for credit of 12% payable & from 2% ,1% receivable can adjust for credit of 2% ,1%
Mitesh Shah
(Expert)
01 September 2008
hi,
1. u have to bifurcate service tax 12% ST, 2%EC and 1% HEC in your invoice and also accounting them differently
2. u take the credit of service tax credit 12% again 12% ST, SC 2% again 2%, and HEC 1% again 1% not viseversa.
As per the service tax act.
Mitesh.
1. u have to bifurcate service tax 12% ST, 2%EC and 1% HEC in your invoice and also accounting them differently
2. u take the credit of service tax credit 12% again 12% ST, SC 2% again 2%, and HEC 1% again 1% not viseversa.
As per the service tax act.
Mitesh.
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