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Credit of EC & SHEC can be used for payment of Service tax

Service Tax - By: - Bimal jain - Dated:- 31-10-2015 - Dear Professional Colleague, Credit of EC & SHEC can be used for payment of Service tax With the underlying theme of setting the stage for Goods and Services Tax ( GST ), the Union Budget, 201 .....

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o been withdrawn effective from June 1, 2015. The act of withdrawal of Cess presented the Industry at large with a bouquet of concerns in view of the provisions of erstwhile Rule 3(7)(b) of the Cenvat Credit Rules, 2004 ( the Credit Rules ) which per .....

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s to allow use of Credit of Cess charged on Inputs, Input Services and Capital goods received on or after March 1, 2015 in the factory for payment of Excise Duty on or after March 1, 2015. However, the situation was not made clear as regards EC and S .....

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redit of Cess charged on Inputs, Input Services and Capital Goods received on or after June 1, 2015 for payment of output liability of Service tax on or after June 1, 2015 on similar line as was done for the manufacturers. Proposed Amendment made in .....

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on inputs or capital goods received in the premises of the provider of output service on or after the 1st day of June, 2015 can be utilized for payment of service tax on any output service: Provided also that the credit of balance fifty per cent Educ .....

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credit of Education Cess and Secondary and Higher Education Cess paid on input service in respect of which the invoice, bill, challan or Service Tax Certificate for Transportation of Goods by Rail (referred to in rule 9), as the case may be, is rece .....

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urer/ service provider to certain extent as regards utilization of Cess availed on or after June 1, 2015 but at the same time, the Notification again fails to amend/ clarify the following open issue, which is a daunting concern amongst the Trade and .....

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