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Service Tax

jtreddy (articled student) (61 Points)

29 February 2008

Hi, I want to know under what conditions Service Tax Credit 20% available for utilisation.

Its urgent ......Pls

Thanks in advance.

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3 Replies

kaushal (w) (545 Points)
Replied 29 February 2008

I think it is when u use services as input services for giving output MFG GDS /sevices and such GDS /Services are either exempt from duty or taxable and u hae not maintained record for such in such case u can avail 20 % of input cedit wait 4 other replies too

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20 % of Service tax input can be set off against output when the assessee is providing both taxable and exempt services and he is not maintaining separate books of accounts for the service tax paid for services received which he has utilised for providing both exempt & taxable services.