Input credit for Service Tax on Foreign Payment
This query is : Resolved
08 May 2009
If we have paid any service tax on behalf of non-resident as Import of Service, Can we take the Input Credit of the same ??
Also, can we adjust such credit against other can be adjusted against payment of other services ??
What entries to be made into books. Please explain with example...
Also, can we adjust such credit against other can be adjusted against payment of other services ??
What entries to be made into books. Please explain with example...
08 May 2009
You can take credit of the tax paid for import of service provided the services procured from the foreign service provider qualifies as your input service.
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