Excess input credit can be adjusted ag stax payable in rcm?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 December 2012
There is excess of input service tax balance in our accounts after adjusting the cenvat credit towards the output service tax liability. Now can our company who is liable to pay the service tax under reverse charge basis on GTA services adjust the same against the service tax liability to be paid under RCM towards GTA services ?
04 December 2012
HI
It is reverse way, you can pay ST agst RCM & claim cenvat of same, however you can not avial cenvat for payment of ST under RCM.
Thanks//Vaibhav
It is reverse way, you can pay ST agst RCM & claim cenvat of same, however you can not avial cenvat for payment of ST under RCM.
Thanks//Vaibhav
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