Service Tax Input
This query is : Resolved
17 June 2009
Dear Sir,
kindly give me your export opinion that
i am working in service Provided company
as per the receipt and payment basis we are paying the service tax
but one case
i have taken the 100% input towards service
that is bill value 133666/- includes service Tax Rs 14703/- after Tds net payable 130912/-
against above payable we paid advance Rs 100000/- and i have taken 100% input
please suggest me , is it wrong input or
i shoud have taken based on proportionate basis
The Balance amount we paid after 9days
With Regards
Sapan Kumar
kindly give me your export opinion that
i am working in service Provided company
as per the receipt and payment basis we are paying the service tax
but one case
i have taken the 100% input towards service
that is bill value 133666/- includes service Tax Rs 14703/- after Tds net payable 130912/-
against above payable we paid advance Rs 100000/- and i have taken 100% input
please suggest me , is it wrong input or
i shoud have taken based on proportionate basis
The Balance amount we paid after 9days
With Regards
Sapan Kumar
18 June 2009
Yes credit should have been taken on proportionate basis.
However if you have not utilised the credit in that month or the balance was in excess of that excess amount availed there wouldbe no effect.
Otherwsie interest for 1 month on the excess amount availed @ 13% per annum maybe calcuated and paid vide challan.
However if you have not utilised the credit in that month or the balance was in excess of that excess amount availed there wouldbe no effect.
Otherwsie interest for 1 month on the excess amount availed @ 13% per annum maybe calcuated and paid vide challan.
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