TDS

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B.KARUNANANDAM (MANAGER (FINANCE & ACCOUNTS))   (30 Points)
Replied 05 June 2011

LET ME CLARIFY EXCISE DEPARTMENT VIEW IS CENVAT CREDIT AND SERVICE TAX CREDIT OR THE SAME OR DIFFRENT.  FOR EXAMPLE IF I HAVE CREDIT RG 23A BUT I WANT OUTPUT SERVICE TAX TO BE OFFSET AGAINST THE CENVAT CREDIT IS  IT OK OR I HAVE TO PAY SERVICE TAX THROUGH GAR-7.  WHEN DEPARTMENT CLARIFIES WHAT ARE ALL THE INPUTS I HAVE USED FOR THE OUT PUT SERVICE TO THAT EXTENT PORTION OF CENVAT CREDIT ONLY I HAVE USED.  I CANNOT USED WHICH IS ACCUMULATE FOR MANUFACTURING RELATED CREDIT TAKEN .

ANY BODY CLARIFY ALONG WITH RULES/SECTION.

B. KARUNANANDAM

MANAGER(F&A)


CA,CMA,CS Karan Gogia (Employed) (230 Points)
Replied 06 June 2011

@ B.KARUNANANDAM... input cenvat can b setoff against output service tax liability and offcourse the input cenvat shud be of same bussiness for which you have service tax liability only then it can b said that input has been used to provide output service...

this is provision of cenvat credit rule 3(7) & 4....

in case of query write me at kitu.kool @ gmail.com....



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