To avail a input tax credit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2015 Dear Sir,,
We are paying service tax on Reverse Charge Mechanism on Lorry Fright,but for for last 3 months we became a service provider - renting immovable property,and taking on rent of immovable property

Do we have the right to take input tax credit
1)rent
2) Warehouse management service
3) container charges
4)Security charges
5) Advertising charges
6)Professional service

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

17 November 2015 You can avail input tax credit only when the input service is utilized for providing taxable out put service.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

17 November 2015 Thank you for your reply,
But I have one more doubt,can we set off tax paid on rent against the rent received
Can you explain with any example for for your earlier reply

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

17 November 2015 Yes it can be set off in the following circumstances. you are taking a building on rent on which service tax is paid, which is sub let and rent including service tax is collected.

Message likes : 1 times

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