Credit of R & D Cess for import of technology from foreign company

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..... Credit of R & D Cess for import of technology from foreign company
Query (Issue) Started By: - Manoj Pant Dated:- 25-12-2013 Last Reply Date:- 25-12-2013 Service Tax
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Service Tax< .....

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..... br>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 .....

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..... 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 Rs. .....

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..... 10 Lakhs 120000/- Less exemption for R & D Cess Paid 50000/- Net Service Tax 70000/- Add. EC & SHEC at the rate of 3 percent 2100/- Service tax payable 72100/- in that case how much CENVAT Credit .....

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..... 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 the Net .....

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..... Service Tax paid by you.
Discussion Forum - Knowledge Sharing .....

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