kindly let me know how much rate should be retained for cenvat credit for service tax
CA Pooja Agarwal
(Chartered Accountant)
(3228 Points)
Replied 14 June 2013
your question is quite not clear
@rinssss
(ca)
(119 Points)
Replied 14 June 2013
R.Reshma
(Student)
(56 Points)
Replied 15 June 2013
Please explain me whether cenvat credit in service tax can be adjusted in full against service tax payable or is there any limit upto which credit can be adjusted?
Eg: Input tax paid for a month is Rs.3128. But this input amount is adjusted to an extent of Rs.3088. Is it correct? Please explain me.
Brajesh gautam
(student)
(232 Points)
Replied 18 June 2013
1- Full input can be taken , say- we have installed furniture somewhere & raised a service inv. and we have taken the services too related to our business so input service tax on service taken can be adjusted with output service tax that is received from service inv raised by us.
2- condition may be changed if abatement rate is opted, plz read the abatement
CAclubindia
