Input Credit Utilisation
This query is : Resolved
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.?
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.?
10 July 2008
Dear Anish
There is no change in practice and cenavt credit is available only after making payment.
There is no change in practice and cenavt credit is available only after making payment.
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