23 December 2011
Dear Experts, For the previous 4 - 5 years service tax paid has not been claimed for Cenvat Credit(for the payment of Excise Duty which they are manufacturing). My doubt is 1)whether we can claim those service tax amount during the current period? 2)Suppose if the service tax paid during the previous year has been treated as expense and tfrd to expenditure as a result of it, profit wd have been reduced to that extent, in such a case can i claim those service tax credit for the payment of excise duty during the current year? Should we have to file the revise return then? 3) What are the additional procedures that i have to do from the current year (till now they have not filed ST-3 bcuz they were not claiming Service Tax Credit) should they have to file ST-3 monthly from now on if they use it for payment of Excise duty? 4) Anyother return or procedure that has to be adhered? Thanks & Regards, Rajesh.
24 December 2011
1. There is no time limit for claiming Cenvat Credit. So it can be claimed now.
2. If service tax was claimed as expenditure then one cant avail credit of that amount. Revised retuen can be filed only with in 90 days from filing of original return.
3. ST-3 is fillied half yearly, so one cant filled it monthly.
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