w.e.f 01.07.12, as a company we have to pay 50% of WCT as Service Receiver on Service Provider bills (in case of other than company), our doubt is, the 50% paying on service provier bill by us, is it eligible for CENVAT. We are reg. under WCT and charges @ 4.8%. Pl clarify thanks
Menu
Cenvat under wct
Replies (3)
If you are a service provider and the service received by you is your input service used for providing the output service, then cenevat credit is admissible. If the resultant of the service is a capital asset in your hands, cenvat is not admissible. If it is for repair of your asset, credit is admissible.
Please mention ur Business - activity & the services which u received ( regarding the above question)
Hello Subramani,
When u r paying service tax as service receiver under partial reverse charge mechanism ,u need to pay that service tax from ur pocket ,u cant utilise the existing CENVAT credit availble to pay it.
But once u pay it u can avail it as CENVAT credit as input service.
Recent Topic
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
- ITR-4,under presumptive Taxation
- TDS data mismatch with SFT
- Resale of under construction Residential Flat part
- What would be my Salary
- Damage good
- INCOME TAX RETURN
- Form 10E doubt
- LTCG on property sale after 24jul2024
- Should we mention NET INCOME or GROSS INCOME in i
Related Topics
CAclubindia
