Service tax
This query is : Resolved
08 February 2010
Where the output service provider does not maintain separate books of account in respect of taxable and non-taxable services, the service tax credit shall be restricted to 20% of the amount of service tax payable on such output services. Whether to 20% has been ammended or not? If ammended then what is the latest changes?
08 February 2010
The earlier rule of 100% credit + restriction on utilisation upto 20% of tax payable was amended on 1.3.2008. Now the rule is to avail credti on non specified common input services on proprotionate basis as set out in Rule 6 (3).[ see latest provision]
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