Regarding availment of service tax credit
This query is : Resolved
28 November 2012
whether service tax credit available to registered assessee when it makes payment to GTA after availing abatement facility of 75%.
Regards ,
Munna singh.
Regards ,
Munna singh.
28 November 2012
No once you claim abatement then no cenvat credit should be taken. except in case of Construction Service
28 November 2012
In case of reverse charge on GTA, CENVAT credit is available.
28 November 2012
Entry No. 7 prohibits availment of credit on inputs, capital goods and input services. Notification No. 26/2012 dt 20-06-2012
28 November 2012
Agree with Expert, Under reverse charge service receiver can take cenvat credit even after abatement better to take a declaration from the transporter( Service provider) though not legally required from July,2012.
28 November 2012
Dear Mr. Vora,
Entry no. 7 of the said notification has no implication when service tax is paid under reverse charge. it is applicable for service provider making payment of service tax.If GTA was liable for service tax then it would not be eligible for credit of Cenvat.
The condition is not for service receiver liable for service tax under reverse charge where he is not takinf any credit while paying service tax on GTA
Entry no. 7 of the said notification has no implication when service tax is paid under reverse charge. it is applicable for service provider making payment of service tax.If GTA was liable for service tax then it would not be eligible for credit of Cenvat.
The condition is not for service receiver liable for service tax under reverse charge where he is not takinf any credit while paying service tax on GTA
28 November 2012
but in my case assessee is a manufacturing concern and making payment to GTA after availing abatement facility of 75%.
in this case
whether assessee (manufacturing concern) is eligible for taking credit of such service tax payment?
Regards,
MUnna singh.
in this case
whether assessee (manufacturing concern) is eligible for taking credit of such service tax payment?
Regards,
MUnna singh.
28 November 2012
Yes, If the company is paying service tax inward freight then it will be eligible for cenvat credit.
First the company will have to pay service tax and thereafter it can get credit of such amount against payment of service tax/excise duty
First the company will have to pay service tax and thereafter it can get credit of such amount against payment of service tax/excise duty
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28 November 2012
Adding to the above cenvat credit by manufacturer ( service receiver ) can be taken on GTA
1.Inward transportation of Inputs and capital goods,
2.Outward transportation upto the place of removal.
1.Inward transportation of Inputs and capital goods,
2.Outward transportation upto the place of removal.
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21 December 2012
when a manufacturer (service receiver) pays service tax on payment of freight to GTA on outward transportation.
whether service tax credit available to manufacturer in this case.
Regards,
Munna singh.
whether service tax credit available to manufacturer in this case.
Regards,
Munna singh.
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