Dear Friends,
Please answer the following question
Service provided under partial reverse charge : Manpower Supply
25% service tax is included in invoice & 75% is paid under Reverse Charge
A. When the credit for 25% ST is to be availed ? (At the time of receipt of invoice or at the time of payment of value and service tax)
Amount of CENVAT Credit available in the invoice, i,e., 25%, can be availed on receipt of the invoice by the Service Receiver.
1. U can Avail Credit of Both 25 % and 75 %
2. Availment of 25 % - on date of Invoice
3.Availement of 75 % - on date of Payment through GAR - 7 challan
4. time Limit for Taking Credit : rule 4(1) CCR : CC should be taken Within 6 Months from date of issue of any duy paying document ( Invoice , BOE , GAR - 7 challan etc. as applicable )
Note : time limit is only for ' taking credit' There is no time limit for utilization of CC . Once you ' take' credit in your records , you can utilize it any time without any time limit
HOPE YOUR QUERRY IS RESOLVED !
25% on date of receipt of invoice not on date of invoice.
Rest as said above.
CAclubindia
