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For Input Service Distributors Registration - Reg., Service Tax

Issue Id: - 110912
Dated: 15-9-2016
By:- RAM SHARMA

For Input Service Distributors Registration - Reg.


  • Contents

Dear Experts,

We have 3 units registered with seperate excise and service tax registration no. We have centralised bank of all the three units and want to take service tax credit on such bank charges. By doing this we have to take Input Distributors Registration. At this stage, what precaution and procedure to be taken for apply input distributors Registration. Please advice.

Posts / Replies

Showing Replies 1 to 14 of 14 Records

Page: 1


1 Dated: 15-9-2016
By:- Ganeshan Kalyani

2 Dated: 15-9-2016
By:- RAM SHARMA

Dear Sir,

Unable to Go through this link. Please summarise your views.

Thanks & Regards


3 Dated: 15-9-2016
By:- MARIAPPAN GOVINDARAJAN

Whether you are having a head office for these three units? If so head office is to take registration as Input Service Tax Distributor and then credit may be distributed to these three units.


4 Dated: 15-9-2016
By:- YAGAY AND SUN

5 Dated: 15-9-2016
By:- Ganeshan Kalyani

The registration type should be selected and centralised, the address of the head office and the units address to be incorporated in the registration application. The application should be filed online first followed by submission of hard copy to the jurisdiction service tax department.

Regarding distribution of credit, the credit to be distributed in units turnover ratio. If the bank charges is incurred specific to one unit then the credit should be distributed to that unit only. Only common credits to be distributed in turnover ratio.

Thanks.


6 Dated: 16-9-2016
By:- YAGAY AND SUN

It is a settled law that for distribution of CENVAT credit the registration with the revenue authority is not mandatory.


7 Dated: 16-9-2016
By:- KASTURI SETHI

Better option is to obtain registration as ISD. Why to invite trouble unnecessarily ? Govt. has framed rules for following and honouring the same. There is some purposes behind making any rule.


8 Dated: 16-9-2016
By:- RAM SHARMA

Dear Sir,

Whether we have to close all existing registration for taken new ISD and follow new rule for service tax return filling. Please advice.

Thanks


9 Dated: 16-9-2016
By:- Ganeshan Kalyani

The registration existing for the unit shall continue. You will have to get it for HO. From HO you would be able to issue ISD invoice. Thanks.


10 Dated: 16-9-2016
By:- KASTURI SETHI

Rightly advised by Sh.Ganeshan Kalyani, Sir.


11 Dated: 16-9-2016
By:- RAM SHARMA

Dear Experts,

If today onward, we go to ISD Registration then we can avail service tax credit preceding one year. Please advice.

Thanks


12 Dated: 16-9-2016
By:- Ganeshan Kalyani

Sir, credit of invoice dated back to one year is not allowed. Credit is allowed to be taken within one year of the date of invoice. Thanks.


13 Dated: 16-9-2016
By:- YAGAY AND SUN

Distribution of Credit beyond the limit of One Year won't be possible, if this is the scenario, better to book in either in expense account or capitalize it but do not show in current assets account.


14 Dated: 20-9-2016
By:- Ganeshan Kalyani

Accounting aspect has also become essential in view of Detailed manual scrutiny initiated by the department. Hence matching the cenvat register / service tax return with books of accounts become necessary. Thanks.


Page: 1

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