Input credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2012
In case of continuous on account payments to service provider how the Input Credit should be taken. Should we bifurcate each payment to different bills?
20 September 2012
Cenvat Credit is available against the Service tAx invoice. therefore, you should avail credit on the basis on invoice raised by your service provider, payment of bill is relevant for availment of credit.
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 September 2012
Thanks for the reply but perhaps you couldn't understand my query. In our company lump sum payments are made to service providers. Here my query is, how should I take input credit of service tax when one to one relation cant be established b/w payments and bills. sometimes balance is debit and sometimes it's credit
21 September 2012
In this case as per my opinion for availment of CENVAT Credit Service Tax invoice is mandatory. In this case you would have to track the invoices periodically, and then avail credit for only those invoices for which you have made payment.
In case of services in which reverse charge is applicable you can take credit on the basis of challan of payment of ST.
In case of services in which reverse charge is applicable you can take credit on the basis of challan of payment of ST.
Message likes :
1 times
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Building and other construction workers welfare cess act 1996
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Bank Accounts in Balance Sheet for ITR 3
- Gift of mutual fund units to daughter
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Form 10BD Filling
- Are Customised Caps the Smartest Way to Promote Your Brand?
- Capital gain of property recd from partnership firm
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
