QUERY 1) CAN U TELL ME THAT INPUT CREDIT OF EXCISE DUTY AND VAT WILL ADJUST FROM THE SERVICE TAX PAYABLE AMOUNT OR NOT.
QUERY 2) IF ANY CLIENT NOT PAID THE VAT AMOUNT AND ONLY PAY THE TAXABLE VALUE OF BILL. SO IN THIS CASE CREDITOR IS LIABLE OR PAYING THIS VAT AMOUNT OR NOT.
Input credit of excise alone can be adjusted against ST liability subject to the CENVAT credit rules. The adjustment of VAT against ST would be possible once GST comes in.
N N V Satish & Co.,
Hyderabad
CA Inter
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HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
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RMA And Associates LLP
New Delhi
CA Inter
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CCI
Pro
CAclubindia
