LIVE GST Certification Course by CA Arun Chhajer begins 27th April. Register Now!!

ST 3 Return

chandrakala (Asst.Company Secretary) (20 Points)

12 April 2009

Dear Members
Please suggest me how to deduct the input credit amounts from the Service tax liability.  Can I get the 100% of service tax paid by us from the service tax laibility.
or I s there nay condition to deduct only 20% of the tax liability  or 100% of the service Tax payment. whichever is less.
And also please send me the new ST 3 Return in MS Word/ Excel file.
My Email Id : chandrakala1818 @ yahoo.co.in 
 
Thanks & Regards
Chandra Kala

Reply
Follow
Share

4 Replies

Madhukar N Hiregange (Chartered Accountant) (38934 Points)
Replied 13 April 2009

The restriction on utilisation of input services is where the same are used in manufacturing exempted goods or in provding non taxable / exempt services.

The restriction on utilisation to extent of 20% of the tax payable is no more good law. The option now is to keep separate records or pay 8/10 % or avail proportinate credit. Pl see revised rule 6 of CCR.

Bhavin Patel (Legal & Tax Consultants) (36 Points)
Replied 13 April 2009

please send st 3 in excel formet

M.D.Ram (CA Student) (123 Points)
Replied 13 April 2009

Originally posted by :Bhavin Patel
"	please send st 3 in excel formet	"

Attached File : 37 st3 new service tax.xls downloaded: 137 times

M.D.Ram (CA Student) (123 Points)
Replied 13 April 2009

Originally posted by :chandrakala

Dear Members

Please suggest me how to deduct the input credit amounts from the Service tax liability. Can I get the 100% of service tax paid by us from the service tax laibility.

CASE - I

THE SERVICE IS TAXABLE IN FULL

THEN FULL INPUT TAX CREDIT NEEDS TO BE ADJUSTED WITH OUTPUT TAX LIABILITY

CASE - II

THE SERVICE INCLUDES BOTH TAXABLE AND NON TAXABLE

IN THAT EVENT ONLY TAXABLE PORTION'S INPUT TAX CREDIT TO BE ADJUSTED WITH OUTPUT TAX LIABILITY, SEPARATE BOOKS OF ACCOUNTS TO BE MAINTAINED

CASE III

IN CASE THE OUTPUT SERVICE IS EXPORTED OR EXEMPTED,THEN THE REFUND OF UN UTILISED INPUT TAX CREDIT MAY BE CLAIMED BY FILING REFUND A CLAIM WITH WITH THE SERVICE AUTHORITIES

or I s there nay condition to deduct only 20% of the tax liability or 100% of the service Tax payment. whichever is less.

NO SUCH CONDITION IS AVAILABLE

And also please send me the new ST 3 Return in MS Word/ Excel file.

THE ST3 FORMAT IS FORWARDED TO YOUR E-MAIL

HOPE YOU ARE CLARIFIED

My Email Id : chandrakala1818 @ yahoo.co.in

Thanks & Regards

Chandra Kala

Attached File : 58 st3 new service tax.xls downloaded: 146 times