Input service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 November 2012
Dear Experts,
We are doing service of repairs of Stabilisers. We are taking input credit of input services.We are also doing trading of components in the same premises.
Can I take 100% input credit on input service. Will the Service tax auditor raise objection as we are carrying on trading activity as well.
Also kind note that we are not availing excise input credit on the components purchased.
Kindly advice me.
We are doing service of repairs of Stabilisers. We are taking input credit of input services.We are also doing trading of components in the same premises.
Can I take 100% input credit on input service. Will the Service tax auditor raise objection as we are carrying on trading activity as well.
Also kind note that we are not availing excise input credit on the components purchased.
Kindly advice me.
27 November 2012
You can claim the 100 % credit on Input Services which are used for providing service of repairing, if the same is falling within the definition of "Input Services" as given in Rule 2(l) of CENVAT credit rules, 2004.
If any input services is used for providing service of repairing as well as trading of goods then you can't claim 100% credit on same.
If any input services is used for providing service of repairing as well as trading of goods then you can't claim 100% credit on same.
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