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TMI BlogAvailment of Input credit or apply for refundX X X X Extracts X X X X X X X X Extracts X X X X ..... My query is regarding Input Credit. A Co. ABC paid service tax in the year 2004-2005. And the same amount were not taken as credit because of mistake. And now the Co. wants to settle down the service ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tax liablity for the year 2005-2006 , is it possible to take the credit or Co wil have to apply for refund. Thx. - Reply By Surender Gupta - The Reply = In our opinion ABC can take the credit of Serv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice Tax on the input services for the year 2004-05 even now, but it must be established and proved that there is a bonafide reason for not availing the credit in the correct preiod, if asked. However, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... you may not face any difficulty if the time gap is not exceeding one year i.e. for the quarter ending March 2005 you may take credit for the quarter ending Mrach 2006. - Reply By Ajay Manchanda - The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Reply = Credit should be taken within the reasonable time. Time limit is not defined and according to me the credit canbe taken - Availment of Input credit or apply for refund - Query Started By: - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Preeti Dated:- 3-4-2006 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxman ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... agement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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