Input Credit - on Exempted & Taxable Services
This query is : Resolved
01 June 2009
Dear All,
There are 17 services which are given on which one can take 100% Input Credit irrespective of whatever be the Output Servicce.
Further, is there any restriction of 20% available on these Input Credits if credit exceeds more than 20% of taxable revenue.
There are 17 services which are given on which one can take 100% Input Credit irrespective of whatever be the Output Servicce.
Further, is there any restriction of 20% available on these Input Credits if credit exceeds more than 20% of taxable revenue.
Madhukar N Hiregange
(Expert)
02 June 2009
Rule 6 (5) allows for 100% credit for specified common services. The 20% utilisation limit was omitted wef 1.4.2008.
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