Credit to b shown in ST-3

Forms 1698 views 3 replies

Guest

Dear Friends,

Company ABC is registered with the Department wef 1st June, 2008. It has filed its ST3 for (Apri 08 to Sep 08) in time as NIL Return.

ST3 for the period Oct 08 to March 09 is still pending to b filed.

The Company is registered for Beauty Parlour and Health Fitness Services. Till date no Services provided by hte Company. The Company expects to provide services from August 2009. It deals with Gym, Aerobic, SPA etc.

For the same the Company has imported Machineries and Custom Duty of Rs. 7 Lacs has been paid thereon. Apart from that Company has paid Rs. 1 Lac as Service Tax on various services availed during the year 2008-2009.

My question is should I mention in my ST3 for Oct-March 2009, the details of this ST/Custom duty paid by me. Will I b able to claim credit of the same in future ( in ST3 for 2009-2010)???

Now as i m late for ST3, what shall b penalty for late filing of ST-3? I would file ST3 on 8th May 2009.

Replies (3)

N.J.R

Practice

346 Points Posted on 02 May 2009

Dear Nirav,

If u go thro' ST-3 (New form w.e.f 17.03.09), u will find that in 5B u r reqired to provide details of credit at the commencement, utilised & credit standing at the end of the period. Therefore, u should provide details of credit in ur return for half yr ending Mar'09 in credits taken section & same balance will be shown in Closing balance which u can c/f to next year as Op. balance.

Due date for Mar'09 ST-3 was 25th April. So dear u r late for that u hv shed extra Rs. 500 (if delay is upto 15 days) - Rs. 1000 (if delay is upto 16 to 30 days) & if u r late beyond 30 days u hv to pay Rs. 1000 + 100 for each day of delay upto maximum of Rs. 2000.

So Nirav hurry up & file ur ST-3 now.

Regards

Ram kr.

Buisness

883 Points Posted on 02 May 2009

Dear NJR,

To file service tax return last date was 25th April on saturday. Can we file service tax return on 27th April Monday without late fee. Our service tax return inspector denied to accept return. He says we have opened our office on saturday to take service tax return.

CA CS Akashdeep Singh

Practicing CA

1394 Points Posted on 02 May 2009

Yes you have to show cenvat credit in the ST-3 irrespect to return is nil. There is no limitation on the period upto which you can carried forward Cenvat credit. You can carry forward for unlimited period or you can take benefit in future to adjust the liability of payment of service.