Ssp exemption vs cenvat credit
This query is : Resolved
05 January 2013
DEAR SIR
PLEASE CLARIFY THE FOLLOWING
IS IT BETTER TO OPT FOR SSP EXEMPTION OR CENVAT CREDIT AVAILMENT
PLEASE CLARIFY THE FOLLOWING
IS IT BETTER TO OPT FOR SSP EXEMPTION OR CENVAT CREDIT AVAILMENT
05 January 2013
Dear Naveen,
It depends upon case to case. If you can take the input credit and get it adjusted with your output liability then there is no problem in not availing the SSI exemption. By not taking the SSI exemption ultimately your cost will get reduced because you can take the service tax paid as credit another wise it will become your cost.
CA JAYANT BOTHRA
M: 9911-550-210
It depends upon case to case. If you can take the input credit and get it adjusted with your output liability then there is no problem in not availing the SSI exemption. By not taking the SSI exemption ultimately your cost will get reduced because you can take the service tax paid as credit another wise it will become your cost.
CA JAYANT BOTHRA
M: 9911-550-210
06 January 2013
sir thanks for quick reply
but i am asking about ssp(small service provider)exemption
but i am asking about ssp(small service provider)exemption
07 January 2013
Dear Naveen
I do have replied for the same. The small scale service provider exemption provides you the exemption from payment of service tax upto the value of Rs. 10lakh. But by taking so you wont be allowed to take the credit of service tax paid by you and ultimately it will become the part of your cost, due to which the value of your service will be higher.
Thanks & Regds
CA JAYANT BOTHRA
M: 9911-550-210
I do have replied for the same. The small scale service provider exemption provides you the exemption from payment of service tax upto the value of Rs. 10lakh. But by taking so you wont be allowed to take the credit of service tax paid by you and ultimately it will become the part of your cost, due to which the value of your service will be higher.
Thanks & Regds
CA JAYANT BOTHRA
M: 9911-550-210
Message likes :
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15 January 2013
Yes I agree with the expert but if your turnover is below 10 lacs how you are covered under service tax and how you can adjust ST
18 January 2013
Dear SS Agarwal ji,
It is option for the assessee to avail this Rs. 10 lakh exemption or not. It is open for the assessee either he wants to avail the exemption or not and if he do not avails this exemption then he can take the credit of the service tax paid.
Thanks & Regds
CA JAYANT BOTHRA
M:+91 9911-550-210
It is option for the assessee to avail this Rs. 10 lakh exemption or not. It is open for the assessee either he wants to avail the exemption or not and if he do not avails this exemption then he can take the credit of the service tax paid.
Thanks & Regds
CA JAYANT BOTHRA
M:+91 9911-550-210
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