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Cenvat credit

481 views 2 replies

Raman

Others

36 Points Posted on 18 August 2014

Dear Experts,

My query is regarding cenvat credit available to a bank. We being a bank use input service of computer AMC and annual subscripttion of software.

Question -1 Can we avail 100% cenvat of both of these services? If answer is no, please tell how much cenvat credit we can take?

Question-2- We pay service tax under rcm on advocate's fee, how much cenvat we can avail on it?

Question-3- We pay 75% of service tax under rcm on detective service/manpower supply of security guards. How much cenvat we can avail? Please guide.

Replies (2)

Manish

student

469 Points Posted on 18 August 2014

1. Cenvat on st paid on amc can be availed in full on the basis of invoice. 2. Cenavat on adcocate service can be availed after payment ie on the basis of challan 3 crnvat on partial rcm is a matter of litigation, most assessee avail cenvat charged on the basis of th

Manish

student

469 Points Posted on 18 August 2014

3. Cenvat on partial rcm is a matter of litigation. Most assessee avail cenvat charged in invoice on the basis of invoice (25% in your case) and 75 % on the basis of challan. But department urges to avail whole cenvat only after 75% payments being made. It is recommended to avail whole credit after making payment under partial rcm