Rishabh Aggarwal (Assistant Finance Manager) (35 Points)
14 March 2013Whether Service Receiver can adjust its Service Tax liability on import of services by utilizing service tax paid in advance earlier against his normal output service ?
Prasad
(Sr. Manager)
(617 Points)
Replied 15 March 2013
When you pay ST on the import of Service, you can treat it as Cenvat Credit and utilise the same towards discharging your Output ST liablity.
Rishabh Aggarwal
(Assistant Finance Manager)
(35 Points)
Replied 15 March 2013
i have already paid my output service tax liability in advance. now there has ben a service tax liability on me through reverse charge mechanism.
so my question is whether can i set off my reverse charge liablity through my earlier advance payment ?
Prasad
(Sr. Manager)
(617 Points)
Replied 15 March 2013
All reverse charge liablity has to be discharged only in Cash
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