Reverse charge
This query is : Resolved
28 January 2014
A firm provided security services to a company. Firm Charges 3.09 of Service tax amount on its bills from Company.
Company paid entire Invoice amount including 3.09 of service tax amount to Firm and also paid 75%(9.27 of service tax) to govt under reverse charge.
Can company claim the 3.09+ 9.27(12.36 service tax amount ) as credit in its books??
If yes...what is the booking procedure??
Company paid entire Invoice amount including 3.09 of service tax amount to Firm and also paid 75%(9.27 of service tax) to govt under reverse charge.
Can company claim the 3.09+ 9.27(12.36 service tax amount ) as credit in its books??
If yes...what is the booking procedure??
28 January 2014
Yes, you can avail cenvat for the entire amount paid. Rs. 100 should be charged to Security Charges and 3.09+9.27 should be charged to Service Tax Output A/c and adjust it against Service Tax liability.
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29 January 2014
can take credit if it is eligible input service
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but credit for amount of service tax paid under reversecharge can be taken on basis of GAR7 challan basis,,i mean cenvat entry on date of payment of service tax
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but credit for amount of service tax paid under reversecharge can be taken on basis of GAR7 challan basis,,i mean cenvat entry on date of payment of service tax
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