Not clatification properly

Queries 362 views 1 replies

11.5 Rule 6(3B) has been inserted, w.e.f. 1-4-2011 to provide that, notwithstanding anything contained in Rules 6(1), (2) and (3), a banking company and a financial institution including a non-banking financial company, providing taxable service specified in Section 65(105)(zm) of the Act shall pay every month an amount equal to fifty per cent of the CENVAT credit availed on inputs and input services in that month.

Related Pratical question so pls help me

Output Service Tax Rs. 5,000 For month

Input Service Tax Rs. 20,000 for this month

How much payment or carry forward service tax amount for the month ?

I am ask related Banking Institution

 

So pls give me ans. as early as possible because of i am  properly understanding rules 6(3B) of Service Tax

 

Regards

Kalpesh

 

 

Replies (1)

50% of the input credit i.e. 10,000 has tobe reversed. The balance can be used to pay the St. In this case 5k adjusted and 5K carried forward.


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