Service tax input

531 views 4 replies

Dear sir i m working with event management company.Recenty we have done a project. In this project our overall cost is 30 lac.

we issued a invoice only for mangement fee.

Managemnet fee(3000000*5%)=150,000

+service tax                                    =15450

total                                                  =165450

 

But we have recived from clinet  -30Lac+invoice amount

 

Now my qurey is can i get input credit when i recived bill from my suppliers.

Replies (4)

U must also issue the invoices for 30 lacs as supply invoice & charge CST/VAT accordingly. Yes u can avail service tax amount paid to your supplier as input credit if you have used those services in this project.

 

Even Vat input credit you can avail..but CST input credit is not allowed..

 

sir for 30 lac we have issue Reimbursement sheet to our vendor but not charge service tax.

If u have incurred those 30 lacs on behalf of ur client than u can raise reimbursement sheet...However if u have supplied materials to your client as a supply then u must raise invoice towards the supply...

 

I think u must treat these expences incurred on behalf of client to avoide sales tax issue..

 

N yes you can avail input tax credit on the basis of your supplier's bill. 

thanks sir..........

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