credit of service tax on Bank Charges
This query is : Resolved
CA Hemlata Saini
(Querist)
30 June 2010
Hello
Any 1 plz tell me, whether service tax paid on bank charges for preparation of solvency certificate can be availed as credit or not?
Please reply soon!
It's Urgent!
Any 1 plz tell me, whether service tax paid on bank charges for preparation of solvency certificate can be availed as credit or not?
Please reply soon!
It's Urgent!
Shudhanshu Agrawal
(Expert)
30 June 2010
Service tax input from bank can be set off against Service tax output
Shyam Lal Naik
(Expert)
30 June 2010
The service tax paid can be utilised for excise duty as well. It is an input service, being an activity relating to business.
Service tax on Banking and financial services is eligible for 100% credit irrespective of its part usage for nonn taxable service/exempt product.
Service tax on Banking and financial services is eligible for 100% credit irrespective of its part usage for nonn taxable service/exempt product.
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