Cenvat credit

rates 1537 views 4 replies

kindly let me know how much rate should be retained for cenvat credit for service tax

Replies (4)

your question is quite not clear

May I correct u cenvat credit is not retained it is itself a tax which is adjusted when final duty/tax is paid.

If any ccr remains further it is refunded/adjusted.

Please explain me whether cenvat credit in service tax can be adjusted in full against service tax payable or is there any limit upto which credit can be adjusted?

Eg: Input tax paid for a month is Rs.3128. But this input amount is adjusted to an extent of Rs.3088. Is it correct? Please explain me.

1- Full input can be taken , say- we have installed furniture somewhere & raised a service inv. and we have taken the services too related to our business so input service tax on service taken can be adjusted with output service tax that is received from service inv raised by us. 

 

2- condition may be changed if abatement rate is opted, plz read the abatement


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