if we have a turnover of rs 1000 out of which sales are rs 900 and services provided are rs 100.. and we have a service tax input credit of rs 50.. then in what manner are we supposed to take the input credit.. pls explain.. how much input credit can be availed by us??
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Service tax credit
Replies (3)
You need to know whether tht input service was for ur sale of goods or rendering of service. Accordingly, credit can be availed.
If the input service was used exclusively for providing the output service,then 100% credit can be availed. However, if it was a common service, then input service is to be availed proportionately, in this case, 10% of Rs. 50
thnks for the help priyanka but can u pls tell me the section??
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