QUERY OF NOTIFICATION

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This query is : Resolved

Pujan Amatya (Querist)

14 February 2009 Please inform me whether there is any notification relating to the ceiling of input credit within six month of date of payment of bill?
Describing it if i pay the bill of Rs 112.36 including service tax of Rs 12.36 on 1st April. Then is it neccessity that i must utilise the credit with in six month period i.e. 31st September.

please resovle my query..

Rajesh Kumar

Rajesh Kumar (Expert)

17 February 2009 There is no such requirement.

Pujan Amatya

Pujan Amatya (Querist)

17 February 2009 Thank u,Rajesh Kumar Sir....i would be pleased if i also got my next query solved relating to the same topic.
My next query is if there is any provision relating to the allowance of availing inupt credit only upto the 20% of the service tax paid by the construction company to the Govt. on its Work Contract Services?

Defining it, if i am a costruction company and i am paying Rs 100 as a service tax on my work contract service.Then am i allowed only to avail input credit up to only Rs 20?

annapurna

annapurna (Expert)

15 April 2009 The above provision of availing input tax credit upto 20% was applicable till 31.03.2008, when the assessee has not maintained seperate books of Accounts for taxable service and exempted service. There is change in the rule 6.

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