we are in printing busines and are thinking of taking service tax . WE HAVE SOME QUERRIES IF POSSIBLE PLEASE REPLY
WHETHER INPUT FROM TRANSPORT COMPANIES/TELLEPHONE BILLS/CREDIT CARD/ BANKS/CHARTERED ACCOUNTANTS/CONSULTATION FIRMS CAN BE AVAILED
CAN EXCESS INPUTS BECLAIMED FROM GOVT
As per your Query that you want to apply for ST Registration and then take the input credit of INPUT FROM TRANSPORT COMPANIES/TELLEPHONE BILLS/CREDIT CARD/ BANKS/CHARTERED ACCOUNTANTS/CONSULTATION FIRMS can be avail but all the invoices in the favour of business name for which you have sort for registration.
IIndly it is on payment basis when you make the payment then you have take the credit
It has to be examined as to what service you are providing. If it is job work or printing contract, ST is payable and you are eligible for credit.
If you are manufacturing goods falling under Chapter 49 of Central Excise tariff, which is attracting nil rate of duty, no credit is available.
CAclubindia
