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TMI BlogCredit of R & D Cess for import of technology from foreign companyX X X X Extracts X X X X X X X X Extracts X X X X ..... Experts, I have one doubt regarding R D Cess, When we importing some technology from foreign company, we have to pay R D Cess, and the same is exemption in service tax. suppose the work valu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e of 10 lakhs, When we are paying R D Cess for import of technology and for such case the service tax payable calculated in such manner: Gross Service tax at the rate of 12 percent on value of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 10 Lakhs 120000/- Less exemption for R D Cess Paid 50000/- Net Service Tax 70000/- Add. EC SHEC ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the rate of 3 percent 2100/- Service tax payable 72100/- in that case how much CENVAT Cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it we can avail. i.e. gross service tax payable(i.e. 12.36) or net service tax payable (7.21) after exemption of R D Cess. - Reply By Pradeep Khatri - The Reply = You can avail CENVAT credit on th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Net Service Tax paid by you. - Credit of R & D Cess for import of technology from foreign company - Query Started By: - Manoj Pant Dated:- 25-12-2013 Service Tax - Got 1 Reply - Service Tax - Dis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cussion 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 X X X X Extracts X X X X
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