Service tax input

Service Tax (Legacy) 791 views 4 replies

Hello Friends,


I have a scenario. The company has purchased certain capital goods in May 09 and complete payments were made for the same. After making the payments, due to some reason the invoive was cancelled and the same was not capitalised. Now in order to regularise the same we want to capitalise the goods.

Q1. whether the input credit can be claimed in 2011-12 for assets acquired in 2009-10.

Q2. If yes, then what is the documents that are required for it.

 

Please reply with your suggestions

Replies (4)

If it qualies as capital goods as per defiition , credit can be availed in the year 11-12. But without a proper invioce credit cannot be taken.
 

Thanks Mr Unnikrishan... it is an eligible capital good and the same has proper invoice...

Any other document necessary to support our claim both to Department and Auditors

No other document is required

Dear friend

Credit of Capital goods and input materials always can be taken as when material is received in your premises and not depends upon the payment.

So if the invoice is cancelled then either  you would not get the delivery or you will be issued other invoice as the case may be. If Asset is not delivered then there is no question of cretit availment
 


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