Set off on service tax laibility

This query is : Resolved

swapnil (Querist)
Follow

25 April 2014 Hello Everyone,

How we can take a credit of service tax paid on service used in Busniess agaisnt Liability of service Tax ??

our Business is Trading, services & commission

Currenly i follow below process whether is it correct ? if no then pls guide me.

We raised local sales, service sales & Commission invoice in every month. now we have to pay ST on service sales invoice.

but we also pay a service tax on office rent, telephone bill, courier chages, air ticket booking etc

for Example :- my sales for the month of April :- local :- Rs 20,000/- service sales Is Rs 30,000/- & commission sales Is :-Rs 50000/-

My ST liability is Rs 3700/-
I paid a ST on services Is RS 10,000/-(on above mention services )

so I Distribute Rs 10000 on my sales ration ie 2:8.

so i claim service tax set off of Rs 8000/ against my liability Of Rs 3700/- & balance carride forwards for next month liability.

whether is this process is correct ??

pleas guide me ??

thanks

Swapnil
9004075010

KUMAR trp707@gmail.com

KUMAR trp707@gmail.com (Expert)
Follow

26 April 2014 YES U CAN AVAIL CEN VAT CREDIT ON PAYABLE ON RENT + PHONE BILLS + AIR TICKET +COURIER CHARGES ANY OTHER SERVICE TAX PAID U CAN AVAIL S TAX AND WRITE CENVAT CREDIT LEDGER AND ALL ORIGINAL BILL PRESERVE 6 YEAR.
AND ADJUSTED UR S TAX AMOUNT.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok