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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 a .....

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What will happen if balance 10% will be paid beyond 12 months of bill date. - Reply By KASTURI SETHI - The Reply = Dear Sh.Pawan Agarwal Ji, Full Service Tax is payable on the billed amount.Therefore, Service Tax involved on the amount of ₹ 10, .....

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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 .....

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fect his liability to pay tax collected from you (i.e. ₹ 14000/-) to central government. even though you have paid him only ₹ 104000/- Sp has to pay ₹ 14000/- to the central government. You can take credit of ₹ 14,000/- irresp .....

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