service tax credit on new project constrauction
This query is : Resolved
24 March 2009
Hello to all
My client is paying service tax on C&F.
HE is constructing a whole new wharehouse(project), for which he is hiring various services, and paying service tax on this.
As now there is revenue is less, but credit standidng is HUGE due to various services.
The revenue will be generated once the wharehouse is working (after 1 year).
what should we do,...whether take whole credit now and claim refund or wait for project to generate revenue and take credit thereafter.
Ragards
Akash
Hello to all
My client is paying service tax on C&F.
HE is constructing a whole new wharehouse(project), for which he is hiring various services, and paying service tax on this.
As now there is revenue is less, but credit standidng is HUGE due to various services.
The revenue will be generated once the wharehouse is working (after 1 year).
what should we do,...whether take whole credit now and claim refund or wait for project to generate revenue and take credit thereafter.
Ragards
Akash
24 March 2009
He should take the credit and utilise once liability to pay service tax comes.
he cannot take refund of service tax paid.
he cannot take refund of service tax paid.
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