Input Credit Utilisation

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anish (Querist)
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09 July 2008 hii,
Is there any option whereby the service tax can be paid on accounting basis irrespective of the collection received or not.?

I have heard that Service Tax Input can be availed on accounting basis(as against the normal provision that input can be availed only after the payment for expense is made)if service tax output is paid on accounting basis. Is it true.? Anyone aware of it.?

Sanjeev Kumar Varshney

Sanjeev Kumar Varshney (Expert)
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10 July 2008 Dear Anish
There is no change in practice and cenavt credit is available only after making payment.

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