Difference between service tax credit availed and taken
This query is : Resolved
MAHAVEER CHAND
(Querist)
06 February 2016
Difference between Service tax credit availed and taken
Ganeshbabu K
(Expert)
06 February 2016
Availment refers to assesses's entitlement to claim input tax credit.assesse is entitled to avail tax/duty credit on inputs,capital goods,and input services used for providing taxable services or manufacture of dutiable goods.Assesse must avail this credit in servicetax/excise return with in one year from the date he is eligible otherwise same will be expired.Once credit is availed it can be utilised at any time.
Utilisation means use of above cenvat credit balance for payment of output tax such as servicetax and excise duty.
Utilisation means use of above cenvat credit balance for payment of output tax such as servicetax and excise duty.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Urd purchase entry in tally prime
- GSTR-9C filing
- Intimation under section 245
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
