Itc on service tax
This query is : Resolved
31 July 2012
Sir/Ma'am,
Can ITC on service tax be claimed in the current year on the service tax paid on the services taken in the previous year even if the organisation was not registered for the service tax in the previous year and got itself registered in the current year??
Please reply ASAP.
Thank you.
Can ITC on service tax be claimed in the current year on the service tax paid on the services taken in the previous year even if the organisation was not registered for the service tax in the previous year and got itself registered in the current year??
Please reply ASAP.
Thank you.
31 July 2012
Sorry for the language being so complicated, but that's what law is all about, please give a part of your precious time to answer..
31 July 2012
As last year you were not registered under Service Tax, you must have booked all the amt (incl service tax) as as expense and debited to P&L A/c.
So, there should be no amt lying in Cenvat Receivable A/c.
As you were not regd and also there is no amt lying as CENVAT credit in your books, there is no question of claiming the credit.
So, there should be no amt lying in Cenvat Receivable A/c.
As you were not regd and also there is no amt lying as CENVAT credit in your books, there is no question of claiming the credit.
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