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TMI BlogInput credit of service taxX X X X Extracts X X X X X X X X Extracts X X X X ..... If the service provider is in providing service as well as tradgin opf goods, and the services he receives are used for boht purpose like telphone and all , so the input tax will be allowed 100% or 20 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... %. - Reply By Surender Gupta - The Reply = In your case, Cenvat Credit is allowed to the extent of 20% of output service tax liability. - Reply By Madhukar N Hiregange - The Reply = Dear Preeti, Wh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... en along with taxable servcies exempted services or non taxable servcies are provided then the restriction applies. In my view though not specifically stated, if trading is also done the restriction s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hould apply. You would be allowed to avail of 100% credit on the following: a. Services used exclusively for providing taxable services. b. 100% on common inputs specified in 6(5) such as management c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onsultacny, etc. c. 20% of OUTPUT TAX payable for the other common services. Now it is not clear whether all are mutually exclusive. We are of the opinion that the credits are available indivdiually. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... You may have to account for the same separately. - Input credit of service tax - Query Started By: - Preeti Dated:- 1-9-2006 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - 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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