Input credit service tax
This query is : Resolved
06 November 2012
We are an Indian Subsidiary Of Japanese company, and we do import machines from japan and sell it here.
here the query is that we pay to them in jpy that is japanese currency , and in this regard bank charge us service tax also in lieu of conversion of currecy and pay to them......my question is that wheather we can take input tax credit of that service tax which bank has charged in lieu of conversion of currency??
A Answer with relevant secion is highly appreciated!
here the query is that we pay to them in jpy that is japanese currency , and in this regard bank charge us service tax also in lieu of conversion of currecy and pay to them......my question is that wheather we can take input tax credit of that service tax which bank has charged in lieu of conversion of currency??
A Answer with relevant secion is highly appreciated!
06 November 2012
Yes... You can take the credit of input service on bank charges.
06 November 2012
Any service used by provider of taxable service for providing output service, Only That Input Can be taken.
Well, Specifically Financial services is not Included in Input Service definition.
Accounting , auditing, financing, recruitment and quality control Can be Related with Your Service.
But Before Taking Input, Be ready to Prove The Corelation Between input & Output Service.in front of Deprtment.
Well, Specifically Financial services is not Included in Input Service definition.
Accounting , auditing, financing, recruitment and quality control Can be Related with Your Service.
But Before Taking Input, Be ready to Prove The Corelation Between input & Output Service.in front of Deprtment.
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
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Sale of Equity shares for Purchase of Residential Property
- ECO SUPPLY REPORTIONG IN GSTR-1
- TDS PROCEDURE ON SALE OF IMMOVABLE PROPERTY BY NRI
- Payment to foreign customer
- Non issue of e way bill
- Subscription paid to foreign customer
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
