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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, 2015 had proposed to do away with the Education Cess (EC) and Secondary and Higher Education Cess (SHEC) [collectively referred to as Cess ]. While withdrawal of Cess on Excise duty has been made effective from March 1, 2015, Cess on Service tax has als .....

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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 SHEC charged on Inputs, Input Services and Capital goods, for payment of Service tax. Now, the CG vide Notification No. 22/2015-Central Excise (N.T.) dated October 29, 2015 ( the Notification ) has amended the Credit Rules once again to allow use of C .....

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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 Education Cess and Secondary and Higher Education Cess paid on capital goods received in the premises of the provider of output service in the financial year 2014-15 can be utilized for payment of service tax on any output service: Provided also that the .....

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