Input service tax 100% dont take
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 August 2011
service dept audit team objected for 100% input credit on payment of bills from 2008 onwards.
my firm is car show room and work shop
in work shop
FOR EXAMPLE:
spares sale : 1200/-
consumables sale: 200/-
engine sale: 250/-
LABOUR: 2500/-
Total Input value : 1500/-
we received advise from service tax dept by oral
labour charges + spares sale: Total : 3700/-
labour charges/total value*100
2500/3700*100: 67.56 nearly 68 %
total input value : 1500*68%:Rs: 1020/-
thanking you sir,
b.nagendra vara prasad
my firm is car show room and work shop
in work shop
FOR EXAMPLE:
spares sale : 1200/-
consumables sale: 200/-
engine sale: 250/-
LABOUR: 2500/-
Total Input value : 1500/-
we received advise from service tax dept by oral
labour charges + spares sale: Total : 3700/-
labour charges/total value*100
2500/3700*100: 67.56 nearly 68 %
total input value : 1500*68%:Rs: 1020/-
thanking you sir,
b.nagendra vara prasad
13 August 2011
since your sales involves other sales like sale of materials also, then you can take credit based on proportionate amount of input credit only
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