Reverse charge mechanism
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 October 2012
Folks,
Pl. update,
can we take INPUT credit on the service tax, for the transactions under reverse charge mechanism.
eg. MRA service 75% of receiver and 25% by provider (from Non corporate to Corporate)
Now the question is,
can the service receiver take the credit of 25% collected by the service Provider.
Pl. update
Pl. update,
can we take INPUT credit on the service tax, for the transactions under reverse charge mechanism.
eg. MRA service 75% of receiver and 25% by provider (from Non corporate to Corporate)
Now the question is,
can the service receiver take the credit of 25% collected by the service Provider.
Pl. update
MOHAMMAD SALIM
(Expert)
11 October 2012
Yes Cenvat Credit can be taken in respect of service tax paid on the input / input services under reverse charge mechanism in accordance to the Cenvat Credit Rules.
Yes credit can also be taken in respect of pro rata service tax to service provider towrads input / input services subject to satisfying requirement of Cenvat Credit Rules.
Hope this will settle the issue.
Yes credit can also be taken in respect of pro rata service tax to service provider towrads input / input services subject to satisfying requirement of Cenvat Credit Rules.
Hope this will settle the issue.
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