Service Tax credit

 If a  manufactured company get registered in april,10. Can Input service tax can be taken for the invoices of previous year .

Replies (9)

To take credit of inputs/input services, the only requirement is that the inputs/input services have been used in manufacture of excisable goods/output services. When you get registered is irrelevant.

Say, a manufacturing plant is being erected. The plant will get registered when manufacturing of excisable goods will start. However, the plant can take credit of all duties paid on captal goods/services etc. used in erection of the plant.

Please Check the following requirement to take cenvat credit 

  1) Proper Address of Your Company on Invoice,

  2) Service tax no. of party

  3) ECC No of Party

i can`t understand u r  registerd wth Central Excise or Service Tax  in 2010.  if  u  have Central excise Registration in earlier year then u can take Service Tax credit of privious  year bill aslo ( Thats called Cenvat Credit) as per Cenvat Credit Rule 2004

 

Regads

Murthy B.C

Thanks for reply....

Dear Mr. Murthy

If registered with service tax then  input service tax credit can be avail of prevoius years bill.

Dear Mr.Soni,

As per my knowlege obiviously u will eligible to take cenvat on your previous bills, if the following conditions fulfilled.

01. The Services/Goods should be in or in relates to manufacturing/output service.

02 Proper Document (input inovice) support should be maintain.

03. The said document shold contain all the details CE/ST reg.no.., Range, etc.,

If Iam wrong, any one correct me.

 

The stock in hand of inputs / inputs contained in work in progress/ inputs comtained in finsihed goods purchased prior to date of registration would be eligible as long as those goods are tobe sold on payment of duty of excise.

Capital goods not exclusively used in manufacture of exempted goods credit also would be available. The valid invoice reciept at factory and not being ineligible inputs/ cap goods as per defintion shjould be met. 

agree with madhukar sir..

Hello Everybody ,

 

             1.According to latest amendment even the cashless services (tpa) are taxable and the hospital is required to collect service tax frm the patients and deposit the same/

     2.Can the hospital claim cenvat credit on the capital goods which were purchased before the amendment?

 

           Kindly  share ur suggestions

Hello  Sonia

As per my knowledge Hospital can`t allowed Cenvat Credit or Service Tax Credit, Just they  r collectting service tax from patients and deposit the same to Department in time only.

Murthi

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