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service tax and cenvat credit

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Jaspreet kaur

Jaspreet kaur (Querist)

23 December 2007 i want to knw the concept of cenvat credit related to service tax? pls quote with an example....

DURVI

DURVI (Expert)

24 December 2007 Cenvat credit is availed by the person who have already paid service tax on any other service availed - e.g. I have paid telephone bill amount of Rs.5,000 which include Rs. 600 as service tax shown in the bill. Then I have go through the another transaction. I am taking coaching classes and I have collected fees with the amount of service tax. Yhen I have not to pay the Government upto the amount of Rs. 600 and if paid I am entitle for refund from the Government.

DURVI

DURVI (Expert)

24 December 2007 Any service giver company collect service tax from the customer. he can adjust the amount on the raw material or on any other service availed and service tax already paid by the company.

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