Can an automobile dealership (providing both sales and service) claim input credit of service tax on all input services? What are the provisions for claiming the credit proportionally??
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Input credit on service tax
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A per Rule 6, sub rule (3A), of the CCR, 2004 you need to reverse the amount of credit attributable to exempt service in relation to exempt service or exempt product. Ratio for the amount attributable to taxable service will be common service divided by total turnover including turnover of exempt service and taxable service.Exempt services includes trading and sale of securities.
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