Credit of service tax paid under rcm (import of service)

This query is : Resolved

Dasharath Appa Pujari (Querist)
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11 December 2012 Dear Friends,

Can we take a credit of Service Tax Paid under reverse charge (Import of services) to pay Excise/Service Tax Liability?

What is the due date for payment of Service Tax on Import of service i.e.whether its a date of invoice booking or date of party payment or 5th following month of Invoice Booking Month?

VIPUL SHAH

VIPUL SHAH (Expert)
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12 December 2012 Under RCM, it is the payment date which needs to be consider. Hence 5th of the next month/quarter as applicable

Dasharath Appa Pujari

Dasharath Appa Pujari (Querist)
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12 December 2012 Dear Vipul,
Is there any time limit of 6 month?

VIPUL SHAH

VIPUL SHAH (Expert)
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13 December 2012 Dear Dasharath,

under RCM (Import of servies) service tax payments needs to be made at the time of making payment to import party, However as per point of taxation rule (POT), this import payment needs to be done with in 6 moths, if that is not happened then POT will be date of invoice and not date of payment. Which will lead to additional burden of payment of interest

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