Refund of accumulated credit to a Service provider on closure of business / surrender of Registration, Service Tax

[Vinay Kunte]

Is the Refund of balance / accumulated Cenvat Credit available to a Service Provider if decides to close the business and surrender the registration?

If yes, what is the procedure?

Posts / Replies

[Pradeep Khatri]

Dear Vinay,

 Please check Rule 5 of the Cenvat Credit Rules, 2004.

Regards,

Team YAGAY & SUN

(Indirect Tax Consultants)

[Vinay Kunte]

Rule 5 of C.C.R. 2004, speaks of the unutilized credit of Service Tax accumulated due to export of service, towards payment of Service tax on outward Services or payment of Excise Duty on Goods. But, it also stipulates certain conditions as may be notified by the Govt.

Are there any procedures / conditions laid down vide any Circular / Notification in this respect?

Also please note that the Refund is required due to closure of business. Is there any specific provision for that?

[Pradeep Khatri]

Dear Vinay,

Please meet with Commissioner/Deputy Commissioner or Asstt. Commissioner in this regard and submit a write-up to the concerned authority.

Regards,

Team YAGAY & SUN

(INDIRECT TAX CONSULTANTS)