input tax credit
This query is : Resolved
24 June 2011
Dear Sir,
We are the manufacturing Pvt Ltd Co.
We are liable to Pay Service Tax on account of receipeint of Service u/s 68 (Reverse Charge) in respect of Goods Transport Agency. we are also availing the abatement of 75% & Pay Service Tax on 25% amount @10.3%.Please Clarify us whether we can take the credit of Service Tax on Input Services & Utillise it for the payment of Service Tax .
List of Input Service are:
(1) Inland Haulage Exp
(2) Cartage Inward (Local)
(3) Auditor Remuneration
(4) Clearing & Forwarding Charges
(5) Repair & Maintenance
(6) Telephone Exp
(7) Service Tax Paid to Bank on L/C Opening Charges, Buyer's Credit Charges,DD Payable to Foreign Supplier.
Please clarify the above. I shall be thankful
We are the manufacturing Pvt Ltd Co.
We are liable to Pay Service Tax on account of receipeint of Service u/s 68 (Reverse Charge) in respect of Goods Transport Agency. we are also availing the abatement of 75% & Pay Service Tax on 25% amount @10.3%.Please Clarify us whether we can take the credit of Service Tax on Input Services & Utillise it for the payment of Service Tax .
List of Input Service are:
(1) Inland Haulage Exp
(2) Cartage Inward (Local)
(3) Auditor Remuneration
(4) Clearing & Forwarding Charges
(5) Repair & Maintenance
(6) Telephone Exp
(7) Service Tax Paid to Bank on L/C Opening Charges, Buyer's Credit Charges,DD Payable to Foreign Supplier.
Please clarify the above. I shall be thankful
24 June 2011
1,2,5 looks qualified input services,
GTA receipent service tax should be paid in cash only,
you have not provided your taxable service you are providing,
GTA receipent service tax should be paid in cash only,
you have not provided your taxable service you are providing,
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Multiple payment of self assessment tax for A Y 2025-2026
- CAPITAL GAIN REDEVELOPED FLAT
- Requirement under FEMA &RBI
- REGARDING ITR FILING QUESTION
- CLOSING STOCK QUERY
- WHERE I SHOW GST 0% INVOICE IN GSTR1 (EITHER TABLE 7 OR TABLE 8)
- Short Term Gain Reporting ITR
- GST ISD Query on various AMCs
- TDS refund Indemnity Bond
- Computation of Dividend
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
