Service tax

1023 views 9 replies

Hi Good Afternoon to all

I have query on Service Tax.

1. When can we take cenvat Credit, is there is any transactions limit so that we hv to cross 1,50 lakh, after that only we can claim service tax input credit..?

2. my client is newly registered in service tax, and with in 3 months he crossed 10 lakh, til 10 lakh he has not collected any service tax from customers, now after 10 lakh he's going to collect the service tax from customers and remitting the govt, my query is whether he has to pay ST on previous 10 lakh, ...?

Please help me out friends ...

 

Replies (9)

Ans-1 Cenvat credit can be claimed of input services availed aftr we bcome liable to pay ST..i.e aftr crossing t/over of 10 lacs...

Ans-2 No need to deposit ST in respect of previous 10 lacs...because Rs. 10 lacs threshold exemp u/Notif No. 33/2012 dated 20.06.2012....

1. No there is no limit for claiming Service Tax Input Credit.

2. No, he doesnt have to pay Service Tax on previous 10 Lacs as he is newly registered in Service Tax.

Originally posted by : Saurabh Maheshwari

Ans-1 Cenvat credit can be claimed of input services availed aftr we bcome liable to pay ST..i.e aftr crossing t/over of 10 lacs...

Ans-2 No need to deposit ST in respect of previous 10 lacs...because Rs. 10 lacs threshold exemp u/Notif No. 33/2012 dated 20.06.2012....

he has to pay tax on the full amount irrespective of the fact that he collected or not....
Sorry for my earlier reply I misunderstood. No need to pay ST on the threshold limit.....
Iff opted for another scheme in which st is collected from the bigningg than he ll not get cenvet credit . . But if charged st after reaching 10 lakhs than he ll not have to st on 10 lakhs rupees . . .

Agree with the views

Thank to all to reply.
CENVAT Credit of the services purchased is allowed only after registration and only on the services purchsed after date of registration

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