Service Tax return

This query is : Resolved

Akhil Agrawal (Querist)
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22 July 2010 What is the meaning of the Input credit availed & input credit utilized.

Is availed means the amount eligible for cenvat credit being credited in the books( but the payment has not been made)

& Utilized means that how much out of availed has been paid during period & hence is eligible for deduction.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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22 July 2010 Input credit availed meens duty/service tax on input items/service

input credit utilized meens duty setoff by output libility

Akhil Agrawal

Akhil Agrawal (Querist)
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22 July 2010 if i have credited a bill but has not paid. will in the s.t return the credit on same will be shown & if yes it is to be shown then will it be the utilized or the availed credit.

Nirpendra Singh

Nirpendra Singh (Expert)
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22 July 2010 No
Only in the case of S. T. you can avail the amount of credit only after actual payment not on the basis of bill booking.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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22 July 2010 Service tax credit can only be availed on payment basis.

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