Input credit
This query is : Resolved
26 December 2012
My Client have used services from Abroad for which Service Tax should be paid by Service Receiver under Sec. 66A.
Once Service tax is paid, the same can be taken as input for meeting our Service Tax liability.
My Query is that During the month of April 2012, i have imported Service for which the Service Tax as a Service Receiver is paid on 5th of May 2012.
Can i take this Service tax paid on Import Services as input credit for the liability of the month of April 2012 or May 2012?
Once Service tax is paid, the same can be taken as input for meeting our Service Tax liability.
My Query is that During the month of April 2012, i have imported Service for which the Service Tax as a Service Receiver is paid on 5th of May 2012.
Can i take this Service tax paid on Import Services as input credit for the liability of the month of April 2012 or May 2012?
26 December 2012
You are liable to pay service tax on imported service and after paid you can take the cenvat credit of the duty paid amount.
26 December 2012
So, if for the month of April the ST on Impor to Service is Rs. 100,000/- and the same is paid on 5th May 2012.
My Service tax liability as a SErvice Provider is Rs. 10,00,000.
Can i take input credit of Rs. 100,000 against 10 lacs and pay balance 9 lacs
My Service tax liability as a SErvice Provider is Rs. 10,00,000.
Can i take input credit of Rs. 100,000 against 10 lacs and pay balance 9 lacs
27 December 2012
To avoid litigation It is advisable to take Credit in the month of May
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