Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Credit of service tax paid on input services

Save Share

Join Us Follow Us Add as Source

This query is : Open

Report Follow Query Ask a Query

Querist : Anonymous

Querist : Anonymous (Querist)

18 February 2012 I am enjoying benefit of SSI Notification, upto January 2011 my taxable income is less than Rs.10 Lacs but in feb it crosses Rs. 10 lacs.

Now on crossing the limit of Rs. 10 lacs i have to make payment of service tax on income over Rs. 10 Lacs.

Since i m individual assessee so i have to make payment quarterly, Now my question is for paying service tax i can claim cenvat credit of service tax paid on input services of (1) full quarter (from jan to march) or (2) for feb & march since income cross Rs 10 lacs in month of feb.(3) there is any other option.

please reply soon experts.

CA Nikhil Jhanwar

CA Nikhil Jhanwar (Expert)
Follow

18 February 2012 Cenvat credit of Only Feb & March canbe taken......As per notification No. .6/2005-ST as amended Credit can be taken of input service only when you start paying service tax....

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now