Service tax credit carry forward
This query is : Resolved
02 November 2011
Dear Sir,
Our product is excisable. But raw materials which we purchase for manufacture of finished goods are not excisable. Therefore, we are not able to get Cenvat Credit-which we can minus from excise collected and pay balance excise duty. However, we take credit of Service Tax every month on Fees paid for Marketing Consulting charges. And then, pay balance excise duty. Now, suppose, in a month, Excise Duty collected is less than the credit taken of Service Tax, then can we carry forward such excess credit (after adjusting excise payable over next month ? Again, in next month, if such is the situation, then can we carry forward further over next month ?
Pl. advise,
regards
anckoora.
Our product is excisable. But raw materials which we purchase for manufacture of finished goods are not excisable. Therefore, we are not able to get Cenvat Credit-which we can minus from excise collected and pay balance excise duty. However, we take credit of Service Tax every month on Fees paid for Marketing Consulting charges. And then, pay balance excise duty. Now, suppose, in a month, Excise Duty collected is less than the credit taken of Service Tax, then can we carry forward such excess credit (after adjusting excise payable over next month ? Again, in next month, if such is the situation, then can we carry forward further over next month ?
Pl. advise,
regards
anckoora.
02 November 2011
yes, you can carry forward, there is no limit of time for carry forward.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- 44AD, 44ADA business details
- PF wage ceiling
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
