Srinidhi Govind Joshi (Graduate) (29 Points)
13 August 2015Dear all,
Can anybody help me on this matter:- A company has no Service Tax output in the current year, but have paid for the expenses for the purposes of services registered as in the registration certificate. Can we file ST Returns and claim input on them.
U S Sharma
(glidor@gmail.com)
(21056 Points)
Replied 13 August 2015
company registration is not an input service for providing output taxable service / excisable goods, hence no input credit can be availed
ROSHAN PAUL JOSEPH
(CA Final student)
(311 Points)
Replied 13 August 2015
The aim behind Input Tax Credit is to avoid Tax on Tax.
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 13 August 2015
Yeah, when u file ST3 return, show output tax as nil and input tax credit as applicable and show the balance in credit. The same can be utilized in the next year for offsetting against output tax liability.
Arun Gupta
(C.A)
(26 Points)
Replied 16 August 2015
CAclubindia
