latest cenvat credit criteria
This query is : Resolved
01 March 2009
hello!
I wanted to know about latest cenvat credit criteria & its practial illustration.
Pls reply.
I wanted to know about latest cenvat credit criteria & its practial illustration.
Pls reply.
Madhukar N Hiregange
(Expert)
15 April 2009
Maybe a little more information on what exactly you wish to know may help us to reply.
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.
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.
16 April 2009
The 20% concept has been withdrawn from 01.03.2008
Refer the circular for apportioning the credit.
The 20% was when you provide both taxable and exempt services.
Now rule 3/6 has been amended
Refer the circular for apportioning the credit.
The 20% was when you provide both taxable and exempt services.
Now rule 3/6 has been amended
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