banner_ad

credit for input services

Queries 575 views 1 replies

In the Finance Bill 2011 lots of changes in service tax .   we are a service receiver- manufacturing company.

Major hit is 100% credit on 17 services withdrawn.  Credit  for exempted goods/services to be reversed.

Please clarify credit eligibility is determined based on date of receipt of service or simply speaking invoice date and not when payment is effected to the party.

For eg-  we receive a bill dated 7.3.2011 for consultancy services.   we make payment during april 2011. still we can claim 100% credit ie. pre-budget position.

 

kindly clarify

Replies (1)

old practice may be continued upto 30th june 2011 as transitional period, but after that the point of taxation will be applicable.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
11 May 2026
AUDIT INTERN

M/S K.K.KHANNA AND COMPANY

Noida

CA Foundation

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details