23 May 2011
A company has several Regional offices in different cities and register themselves under Centralised Registeration on the basis of centralised accounting.
At the end of each month Regional offices transfer unutilised Cenvat credit to thier Head office.
Is the company require "Input service Distributor" (ISD) registeration even though company has Centralised Registeration?
Please clarify?
Guest
Guest
(Expert)
24 May 2011
All offices who transfer credit needs to obtain ISD registration. There is no exclusion for transfer of credit by branch to the centralised registered office.
24 May 2011
ISD is relevant for distributing credit taken at centralised office to other premises where service is provided or goods are manufactured and service tax/excise duty is paid at such premises. Your case is opposite to this system. You have centralised registration, you can take credit at this office itself provided bill mentions HO adress. But taking credit at branches and transferring same to HO by chalan does not appear to be proper.
CAclubindia
