Query relating to Service Tax

Can a company adjust its Service Tax input credit of earlier years (2006-07, 2007-08,2008-09, 2009-10) against its Excise Duty payable of this year(2010-11)?

If it can adjust the same means will the answer be the same for the below case:

Its Service tax Payable part of the above said years is unpaid until today and got permission  from service tax Dept for the late payment of the  payable portion because it is a loss making concern(for the above said years).

Thanks in advance.

Replies (1)

 

Originally posted by : meenakshi


Can a company adjust its Service Tax input credit of earlier years (2006-07, 2007-08,2008-09, 2009-10) against its Excise Duty payable of this year(2010-11)?

- if the unit in under cenvat credit of service tax scheme i.e not availing exemption of 10L per year then accumulated balance he can use in payment of service tax for taxable services "tendered" or cenvat duty for exiseable goods "cleared"


If it can adjust the same means will the answer be the same for the below case:

Its Service tax Payable part of the above said years is unpaid until today and got permission  from service tax Dept for the late payment of the  payable portion because it is a loss making concern(for the above said years).

- Service Tax payable means u have provided taxable services and the receipent of the service would be eligible for service tax credit. 

- if the Service is related to import of services / GTA, then input credit may not be available as it had to be taken on date of service payout and tax payout, not in later years..


Thanks in advance.

- if the demand is raised by Audit or its against any show cause, then its better to not take credit, otherwise it will get disallowed again next stage which will invite interest and penalty also. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
31 October 2026
Accountants

sankaran and krishnan

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
16 October 2026
CA article trainee

Zerdi & Co. Chartered Accountants

Pune

CA Inter

View Details
Company
13 October 2026
Accountant

Zerdi & Co. Chartered Accountants

Pune

B.Com

View Details
Company
19 October 2026
Accountants/Articles (Freshers/Experienced)

ADY & CO.

New Delhi

Graduate (Any)

View Details
Company
24 October 2026
CA Industrial Trainee

Fytomax Nutrition Private Limited

Aurangabad

CA Inter

View Details
Company
ARTICLESHIP 25 October 2026
Article Intern (CA Articleship)

Arpan Bohra & Co

Hyderabad

CA Inter

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details