Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

Cenvat credit-reg

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Sir, When we provide both exempted services and taxable services and not maining the seperate records, what is the basis for calculation for eligible Cenvat credit under the following circumstances: 1. The Service tax paid on input services when the corresponding output services are taxable 2. The Service tax paid on input services when the corresponding out put services are not taxable .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... . 3. The service tax paid on common input services when they used for both services exempted services and taxable services My question are: 1. The Service tax paid on input services when the corresponding out services are not taxable, Is it possible to take cenvat credit and adjust against tax payable on output services which are not related to this input services? 2. Can we take t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he cenvat credit when the Service tax paid on common input services and adjust against the tax payable on output services? Is there any formula for calculation of Cenvat credit? 3. Is there any restriction for availing Cenvat credit and is there any specific services where are not eligible for Cenvat credit?. 4. The Service tax paid on input services and the same has been adjusted against t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he corresponding out services which are taxable, what will happend to the service tax paid on common input services. Pl clarify Regards N.Balachandran . - Reply By ALOK GUPTA - The Reply = Rule 6 (3) of Cenvat Credit Rule, 2004 prescribes the provision of availment utilization of CENVAT Credit when a service provider provides both taxable exempted services. I think, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... if you go through it you would find answers of all four questions. There is formula, there is provision to calculate the CENVAT Credit on proportionate basis also there is provision to pay 5% (now 6%) of exempted service if you are unable to maitain the separate records. In case you find any difficulty after reading these provisions, you may feel free to ask any question. - Reply By N Balacha .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ndran - The Reply = Thanks for the clarification provided. - Cenvat credit-reg - Query Started By: - N Balachandran Dated:- 6-4-2012 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge 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

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates