Clarification on cen vat curdet rules

X PRIVAT ELIMITED IS INTHE BUSSINESS OF PROVIDING ADVERTISEMENT SERVICES BY WAY OF SELLING TIME/SPACE.

AS PER FINANCE ACT 2012 THE SAIDSERVICE IS EXEMPT FROM SERVICE TAX W.E.F 01-07-2012

AT PRESENT X PRIVATE LIMITED TAKING INPUT CREDIT FOR THE SERVICES USED IN PROVIDING OF OUT PUT SERVICES.

LET US ASSUME AS ON 30-06-2012 THERE IS UN UTILISED CREDIT OF RS.750 LKHS IN THE BOOKS OF X PRIVATE LIMITED.

ALSO ASSUME THERE ARE NO OTHER TAXABLE SERVICES PROVIDED BY X PRIVATE LIMITED.

IN THIS CASE WHAT ARE THE OPTIONS AVAILBLE TO X PRIVAT ELIMITED IN RESEPECT OF UN UTILISED CNEVAT CREDIT OF RS.750 LAKHS AS ON 30-06-2012?

Replies (5)

I think the co shud claim the St Refund on account of excess ST paid.

Balance of excess service tax shall be claimed as refund.

Dear Mr. Agarwal

 

Please justify your answer with relavant provisions of Cetral Excise/Cenvat Credit rules/Service tax.......

Dear Maheshji,

https://www.taxmanagementindia.com/wnew/print_Article.asp?ID=235

Please follow this link.

Regards

Dear Agarwal,

Rule 5 of the CENVAT Credit rules i applicable to the following cases

1.Input/input services to be used in manufacture of final product or provision of out put service which is cleared for export

The case is related to

Input/Inpout Servcie used in providing of out put service which is cleared for home consumption.......

Please send justificataion for this case

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