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Cenvat credit on Part Payment

Service Tax - Started By: - Pawan Agarwal - Dated:- 10-2-2016 Last Replied Date:- 11-2-2016 - Respected Seniors,In number of service contracts mainly related of works contracts services, there can be term of 10% hold from each bill and will be paid after successful commissioning and performance test.In above case let say a bill of ₹ 100000 plus service tax ₹ 14000, we pay ₹ 104000 to vendor and ₹ 10000 will be on hold. How much cenvat credit we can avail on this payment. .....

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gible for credit of the tax and to the extent of burden borne by him. As per section 67 taxable value for any taxable service would be gross amount charged. So if SP has charged you ₹ 1 Lakh service tax shall be payable on this amount (assuming rate of St at 14%) would be 14 thousand. now once service provider collected the service tax indicated in the invoice raised by him, he has to deposit it with central government. The deduction of ₹ 10,000/- by you as per contract, shall not af .....

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