Input credit issue
This query is : Open
02 January 2015
If the creditor payment not within 30 days than service tax input credit taken on bill will be reversed is that true. but what happened if i will be paid to creditor on 4th month
02 January 2015
Creditor needs to be paid within 90 days. If not paid then, service tax is to be reversed and can be availed when paid. This can be done upto 6 months from the date of invoice. In case you pay the service provider after 5 months, then credit is not allowed.
for example: for an Invoice dt.01.01.2015
Upto 31.03.2015, you can avail credit whether you pay service provider or not.
From 01.04.2015 to 30.06.2015, you can avail credit only if you pay service provider.
From 01.07.2015: You cannot avail credit even if you pay service provider.
Thanks!
for example: for an Invoice dt.01.01.2015
Upto 31.03.2015, you can avail credit whether you pay service provider or not.
From 01.04.2015 to 30.06.2015, you can avail credit only if you pay service provider.
From 01.07.2015: You cannot avail credit even if you pay service provider.
Thanks!
Message likes :
1 times
10 January 2015
thanks sir its very confusing . P V Ram
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
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
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
