Service tax
This query is : Resolved
17 February 2012
in case of radio taxi whether service tax credit is available,if yes then what are the rules apply in such cases
please give notifications/rules no.
please give notifications/rules no.
CA Sumat Singhal
(Expert)
17 February 2012
FOR SERVICE PROVIDER
Pay service tax on the gross amount charged at the current prevailing rate i.e. 10.3%. In such case the service provider is eligible for CENVAT Credit on inputs, input services and capital goods. The service provider can take the excise duty credit on motor vehicles used for providing the services as capital goods credit.
Option – 2
Pay Service Tax on the 40% of the gross amount charged after availing the 60% abatement under Notification No. 1/2006 – S.T In such case the service provider cannot avail CENVAT Credit.
FOR SERVICE RECEIVER
It is no longer available. All bills upto 31.3.2011 credit wouldbe available as per the latest circular. After that not available.
Pay service tax on the gross amount charged at the current prevailing rate i.e. 10.3%. In such case the service provider is eligible for CENVAT Credit on inputs, input services and capital goods. The service provider can take the excise duty credit on motor vehicles used for providing the services as capital goods credit.
Option – 2
Pay Service Tax on the 40% of the gross amount charged after availing the 60% abatement under Notification No. 1/2006 – S.T In such case the service provider cannot avail CENVAT Credit.
FOR SERVICE RECEIVER
It is no longer available. All bills upto 31.3.2011 credit wouldbe available as per the latest circular. After that not available.
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