Service Tax Credit

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Student
95 Points Posted on 30 May 2011

Service tax exemption of Rs. 10,00,000/- exhausted on 30-09-2010. He is liable to collect service tax from 01-10-2010. Total receipts for the next quarter Rs. 5,00,000/-. Service Tax collected Rs. 51,500/-

Can he avail service tax credit for service tax amount paid for the period 01-04-2010 to 30-09-2010.

 

Please reply its urgent!!!

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On 30 May 2011 at 17:39 Report
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glidor@gmail.com
21068 Points Posted on 31 May 2011

serevice received within exemption period does not qualify for input credit.

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On 31 May 2011 at 12:56
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Sr. Manager
617 Points Posted on 31 May 2011
Input credit is avaliable only from the time when the services become taxable. simple logic NO Input if no out put. on the other hand if he is a exporter he can claim refund
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On 31 May 2011 at 19:52
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CA CS And CMA Final
919 Points Posted on 31 May 2011

yes, agree with sharma and prasad

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On 31 May 2011 at 19:56

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