input credit
This query is : Resolved
CA. MITHUN KHATRY
(Querist)
07 March 2009
I am registered under service tax
however my gross receipts is below 10Lakh
so i am eligilble for abatement i.e. I dont charges service tax or deposit tax
however i have input service tax credit.
what should i do
IS IT TRUE THAT WHILE AVAIALING ANY ABATEMENT I CANT CLAIM INOUT TAX CREDIT
however my gross receipts is below 10Lakh
so i am eligilble for abatement i.e. I dont charges service tax or deposit tax
however i have input service tax credit.
what should i do
IS IT TRUE THAT WHILE AVAIALING ANY ABATEMENT I CANT CLAIM INOUT TAX CREDIT
Ankit Dawar
(Expert)
07 March 2009
Yes. you are right. As per Notification 6/2005 dated 1-3-05, the credit of input services used for providing threshhold value of Services cannot be availed by the Service provider as credit.
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