Dear all,
If an assessee has paid serice tax on input services taken for a project that is to be commenced in 2016, can it ask for refund of the same on quarterly basis in current year, as it has not started providing services or manufacturing product?
Please advise as soon as possible.
Thanks
no refund....
THE CREDIT CAN BE TAKEN AFTER STARTING MANUFACTURING AND CAN BE USED AGAINST CENVAT PAYABLE.
The company is eligible to take credit only on service tax paid for those input services that will be utilised for manufacturing/providing the output. Thus, in this case since, the company has not begun activities in relation to its output, credit to be postponed. Refund is not allowed.
no refund is possible ..........
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
