CENVAT CREDIT

Assessee is engaged in trading of goods as well as providing consultancy. How to claim CENVAT credit in respect of service tax paid on common expenses incurred such as Telephone, rent etc.having regards to recent amendment that has taken place

Replies (6)

There is no other method other than directly allocating the facility themselves.

hi

i am a taxation consultant. i have a client, a pvt. ltd. co. who is a contractor. now i want to know that if any transporter charges services tax on his freight bill, can my client take the credit of this service tax.

Originally posted by :MOHIT GUPTA

"

hi
i am a taxation consultant. i have a client, a pvt. ltd. co. who is a contractor. now i want to know that if any transporter charges services tax on his freight bill, can my client take the credit of this service tax.
"

In my opinion yes so far the service tax paid on the freight bill pertains to inputes services. It is to be noted that all the freight paid may not be input services. In other words freight incurred for transportation of  finished goods to client is not an input services and conseuently service tax paid on such freight is not eligible for CENVAT credit

In case of  banking company are taken cenven credit

what is treatment for cenven credit

EXAMPLE : COMM  2000

                      EXCHAGE 2000

                      GOVT BUSINESS 2000

                      INTERST                 200000

SERVICE TAX PAID IN THROUGH FOLLOWING ITEMS.

TELEPHONE BILL   200

AMC                               2000

ON RENT                    2000

 

 WHAT WILL BE SERVICE TAX AND HOW MUCH CREDIT WILL BE AVAIL AND UTILISED.

Originally posted by :Guest
" In case of  banking company are taken cenven credit
what is treatment for cenven credit
EXAMPLE : COMM  2000
                      EXCHAGE 2000
                      GOVT BUSINESS 2000
                      INTERST                 200000
SERVICE TAX PAID IN THROUGH FOLLOWING ITEMS.
TELEPHONE BILL   200
AMC                               2000
ON RENT                    2000
 
 WHAT WILL BE SERVICE TAX AND HOW MUCH CREDIT WILL BE AVAIL AND UTILISED.
"


 

Originally posted by :Guest
"




Originally posted by :Guest


"
In case of  banking company are taken cenven credit
what is treatment for cenven credit
EXAMPLE : COMM  2000
                      EXCHAGE 2000
                      GOVT BUSINESS 2000
                      INTERST                 200000
SERVICE TAX PAID IN THROUGH FOLLOWING ITEMS.
TELEPHONE BILL   200
AMC                               2000
ON RENT                    2000
 
 WHAT WILL BE SERVICE TAX AND HOW MUCH CREDIT WILL BE AVAIL AND UTILISED.
"

what is reversal credit calculation 

what is 8% fanda on exempted service 

interest is exempted service or not


 

"


 

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