15 April 2009
Dear Sir, I, m not aware about the latest set off criteria. Earlier it was 20% of the input s.t. paid, E.g. if output service tax =112/- and input serivice tax paid =100/- set off/ credit awailable =20/-(100*20%) Serivce tax payable =112-20=92. IS THERE ANY CHANGE IN THE 20% SET OFF RULE. IF YES, WHAT IS THE NEW RULE? WAITING FOR UR REPLY ASAP.