Input credit of service tax
This query is : Resolved
29 April 2017
Dear All,
Hi,
We are a trading company engaged in to trailer parts and recently we have started assembling certain parts which falls under the category of manufacturing . We have Trading, Importer and Manufacturing Excise Reg. No.s
Can we take the credit of service tax against the manufacturing excise . Also can we take credit under the Trading or importer excise . Thirdly can we pass on the service tax to the customers also can we pass on the service tax from trading to manufacturing within the company.
Hi,
We are a trading company engaged in to trailer parts and recently we have started assembling certain parts which falls under the category of manufacturing . We have Trading, Importer and Manufacturing Excise Reg. No.s
Can we take the credit of service tax against the manufacturing excise . Also can we take credit under the Trading or importer excise . Thirdly can we pass on the service tax to the customers also can we pass on the service tax from trading to manufacturing within the company.
29 April 2017
1 Yes credit of service tax can be taken in case of input service for manufacturing.
2 No credit can be taken for trading. For CVD paid on imports credit can be taken.
3 Manufacturing concern can only pass on excise not service tax. Trading can't pass on service tax credit to manufacturing.
2 No credit can be taken for trading. For CVD paid on imports credit can be taken.
3 Manufacturing concern can only pass on excise not service tax. Trading can't pass on service tax credit to manufacturing.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- Invertaded duty struture
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
