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service tax credit

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service
174 Points Posted on 12 March 2008
whether 100% service tax credit can be availed for auditing, accounts, finanace, repairs and maintenace , quality control, manpower recruitment, telephone can be availed for taxable as well as exempted out put service as seperate maintennce of records for such services are not possible
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On 12 March 2008 at 16:27 Report
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458780 Points Posted on 13 March 2008
if books of accounts are not maintained separatly, only an amount equal to 20% of the available service tax input can be taken as credit against the output.
368 Reply
On 13 March 2008 at 11:51
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458780 Points Posted on 13 March 2008
Dear Prakash What u have said it right, but its not 20 % of available credit. provision of Rule 6 is like- you can discharge your service tax laibility by cenvat credit to the extent of 20% laibility. in short 80% liability should be discharged by G.A.R.7 challan.
368 Reply
On 13 March 2008 at 19:38
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CA
63 Points Posted on 13 March 2008
To all..... however above provisions are redundant in view of Budget 2008.subject to passing of finance Bill.
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On 13 March 2008 at 19:41
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senior accounts officer
79 Points Posted on 14 March 2008
books of accounts means we provide with half year return all supportings . is it suuficient or any other Records pls advice
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On 14 March 2008 at 11:20
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Gen. Manager - Indirect Taxation
3451 Points Posted on 15 March 2008

Rule 6 specifies 17 such categories which are subject to 100% credit in case where exempt goods are manufactured or exempt services are provided, if there is none above you can take full credit of service tax

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On 15 March 2008 at 12:41


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