Service tax refund & credit
This query is : Open
Punit Agrawal
(Querist)
01 July 2014
Dear All,
We have paid extra service tax of Rs. 150000/- in a unit on service charges in Fy 2007-08, but actual liability was lower.
Now in our return it shows as cenvat credit available.
But now we want to use this credit against another unit of Real estate business.
Now question arises:
1. Can we use this credit as above?
2. Or Can we file an application of refund for this service tax?
Kindly advise.
We have paid extra service tax of Rs. 150000/- in a unit on service charges in Fy 2007-08, but actual liability was lower.
Now in our return it shows as cenvat credit available.
But now we want to use this credit against another unit of Real estate business.
Now question arises:
1. Can we use this credit as above?
2. Or Can we file an application of refund for this service tax?
Kindly advise.
Arun Kumar Singh
(Expert)
01 July 2014
You can utilised that credit of duty payment in future or you can apply for refund.
Punit Agrawal
(Querist)
01 July 2014
Means-
Utilization of credit in near future means?
We can adjust the credit now as above or not.
and what is the time limit for refund.
Utilization of credit in near future means?
We can adjust the credit now as above or not.
and what is the time limit for refund.
Arun Kumar Singh
(Expert)
01 July 2014
You can utilise from balance cenvat credit in regards to duty payment.
Punit Agrawal
(Querist)
01 July 2014
Actually our auditor is denying, so can you tell us the provision or any other thing , so we can convince him.
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