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TMI BlogAmendments in the Service Tax Credit Rules, 2002X X X X Extracts X X X X X X X X Extracts X X X X ..... s, further to amend the Service Tax Credit Rules, 2002, except as respect things done or omitted to be done before such amendment ,namely :- 1. Short title and commencement.- (1) These rules may be called the Service Tax Credit (Second Amendment) Rules, 2003. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Service Tax Credit Rules, 2002, (here ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... invoice or bill or challan is issued on or after the fourteenth day of May, 2003: Provided that the output service provider shall be allowed to take such credit, on or after the day on which he makes payment of the value of input service and the service tax paid or payable as indicated in invoice or bill or challan referred to in sub-rule (1) of rule 5."; (B) in sub-rule (2) for the brackets an ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s for receipt and consumption of input service meant for consumption in relation to rendering of output services which are chargeable to service tax and the inputs service meant for consumption in relation to rendering of output services which are exempted services or non-taxable services, as the case may be. The service provider shall take credit only on that portion of input service, which is in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iii) In Form, after the heading "Service tax credit" and the table under it, the following shall be inserted, namely:- (a) Output service (a) Description of output services in relation to rendering of which the input services are consumed: (b) Whether separate account is maintained for receipt and consumption of input service meant for consumption in relation to rendering of output services whic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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