St cenvat refund query (urgent)
This query is : Resolved
19 June 2013
Dear Sir
I have Two Doubts Please Explain if its is not clearly explain by me please tell
1.)
Oct-12 to Mar-13
ST Payable to GOVT - 7,00,000
Less: Cenvat 15,00,000
Balance Cenvat C/f 8,00,000
After 01-04-2013 My Business was closed and I want to Surrender my ST Registration after FIling the 2nd HALF ST. At this situation Non Utilized CENVAT of Rs. 8,00,000 is Refund to me
2.)
one my Sub Contractor raise a bills to me in the moth of Nov-12 Value Rs. 15,00,000 and ST on Value is 1,85,400, these bills not paid by me at the end of Mar-13 am I eligible to claim ST on these bills as CENVAT
3.) is Compulsory Bills Paid with in 90 Days if CENVAT Utilized?
I have Two Doubts Please Explain if its is not clearly explain by me please tell
1.)
Oct-12 to Mar-13
ST Payable to GOVT - 7,00,000
Less: Cenvat 15,00,000
Balance Cenvat C/f 8,00,000
After 01-04-2013 My Business was closed and I want to Surrender my ST Registration after FIling the 2nd HALF ST. At this situation Non Utilized CENVAT of Rs. 8,00,000 is Refund to me
2.)
one my Sub Contractor raise a bills to me in the moth of Nov-12 Value Rs. 15,00,000 and ST on Value is 1,85,400, these bills not paid by me at the end of Mar-13 am I eligible to claim ST on these bills as CENVAT
3.) is Compulsory Bills Paid with in 90 Days if CENVAT Utilized?
CA. RAVIKUMAR
(Expert)
20 June 2013
Hi Rajesh,
Answer for your query;
1) You will get the refund of Service tax paid follow the rules and procedure as per Section 11B of the Central Excise Act 1944 which is applicable to service tax also..
2) You can not claim the input as you are not paid the the bill, when you pay then you can claim,
3) No compulsory, if you do not pay within 90 days then you have to reverse the cenvat credit by way of a payment of ST on expiry of 90 days and credit is available when you pay the bill amount.
Answer for your query;
1) You will get the refund of Service tax paid follow the rules and procedure as per Section 11B of the Central Excise Act 1944 which is applicable to service tax also..
2) You can not claim the input as you are not paid the the bill, when you pay then you can claim,
3) No compulsory, if you do not pay within 90 days then you have to reverse the cenvat credit by way of a payment of ST on expiry of 90 days and credit is available when you pay the bill amount.
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