Dear all,
When paying service tax, can we take any credits,
ex: service tax payable amount is 5000.00 and we paid service tax amount for telephone, travelling etc.. is 2000.00 what amount we need to pay ?
Thanks
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Service tax calculation
Replies (3)
If the assesse is the service proivder/Manufaturer/Manufacturer service provider, then you can take credit of all service tax which you have paid for all input services.
| Originally posted by : OBULIRAJAN R | ||
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If the assesse is the service proivder/Manufaturer/Manufacturer service provider, then you can take credit of all service tax which you have paid for all input services. |
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service tax payable for "providing taxable output services" are 5000/-
you are availing input credit for "input services" 2000/-
so the balance of 3000/- is payable in cash.
Note:
1)reverse mechanism service tax liability can not be set off with input credit, but payable in cash only , example GTA service tax.
2) Input credit is available on only "input services" which are used directly in providing "taxable output services" / "taxable excisable goods clearance"
3) if the assessee has availed any value based exemption / abatement either in service tax or in excise, then no input credit admissible.
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