Input Credit in the case of NBFC
This query is : Resolved
17 September 2016
I am working in NBFC. During the last month I had wrongly paid Service tax under RCM and as per the provision of Service tax Financial institution is allowed to avail only 50% cenvat credit. My question to you is that whether I should take 100% input credit on wrongly paid Service tax under RCM or not ?? I am doubtful so please suggest how to deal with it ??
Arun Kumar Singh
(Expert)
17 September 2016
If you have paid the duty by mistake then you can adjust the credit from other duty liability.
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