Credit of st paid on penalty??
This query is : Resolved
04 May 2014
Sir,
If in a manufacturing concern Service tax is paid on Bank penalty charges, will it's credit be allowed under banking and other financial service.
is there any rule regarding this?
If in a manufacturing concern Service tax is paid on Bank penalty charges, will it's credit be allowed under banking and other financial service.
is there any rule regarding this?
04 May 2014
Sir
As per my view service tax credit shall not be allowed,because the penal charges were charged on account of some mis-compliance and not for providing any input service.Therefore service tax credit shall not be allowed.
As per my view service tax credit shall not be allowed,because the penal charges were charged on account of some mis-compliance and not for providing any input service.Therefore service tax credit shall not be allowed.
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