INPUT TAX CREDIT
This query is : Resolved
24 December 2008
I COLLECT SERVICE TAX ON RENTAL INCOME OF RS25000, I PAY SERVICE TAX ON TELEPHONE BILL OF RS5000,WHICH IS USED FOR BUSINESS PURPOSES. MY QUESTION IS CAN I GET THE CLAIM OF RS5000, AND DEPOSIT RS 20000 ONLY TO THE GOVT.,IF NOT HOW MUCH DEPOSIT SHOULD MADE
25 December 2008
You will have to deposit Rs. 25,000/- as the Cenvat on Input Service will not be available to you bacause of the reason that the input service is not being used to earn the rental income.
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