ST CENVAT Credit
This query is : Resolved
19 September 2008
Dear All,
I m in Service providing Company (providing taxable services only) & wants the amount of CENVAT credit by following figures:-
In Aug. month I have received ST amount = 2000000
ST receivable = 5000000
CENVAT on capital goods = 40000
Plz tell me for how much amount i can avail ST credit and how much amount i will have to pay. tell me rule no. if possible.
Thanks,
Anuj
I m in Service providing Company (providing taxable services only) & wants the amount of CENVAT credit by following figures:-
In Aug. month I have received ST amount = 2000000
ST receivable = 5000000
CENVAT on capital goods = 40000
Plz tell me for how much amount i can avail ST credit and how much amount i will have to pay. tell me rule no. if possible.
Thanks,
Anuj
19 September 2008
On capital goods you can claim cenvat credit only 50% in first year and balance 50% next financial year.
Then S.T always paid to government based on receipts of S.T and not the charge to client.
Then S.T always paid to government based on receipts of S.T and not the charge to client.
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