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SERVICE TAX INPUT CREDIT

Service Tax - Started By: - chandrashekhar bathini - Dated:- 12-2-2016 Last Replied Date:- 14-2-2016 - Respected sir,a Andrapradesh company paying service tax on construction activity @ 14.5% on 30% value of contract(cannot differentiate material and .....

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ou are availing abatement of 70% from the gross amount charged, you cannot avail cenvat credit on the inputs in terms of Notification No.26/12-ST dated 20.6.12 as amended. - Reply By vijay kumar - The Reply = Please refer to Rule 2A of the Service Ta .....

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ENVAT credit of duties or cess paid on any inputs, used in or in relation to the said works contract, under the provisions ofCENVAT Credit Rules, 2004.] Accordingly, you cannot avail the credit of excise duty paid on inputs. The logic is that materia .....

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value, in terms of the above cited rule. It is not clear as to how you are paying tax on 30% value. - Reply By KASTURI SETHI - The Reply = SH.Vijay Kumar Ji, Yes Sir. I fully agree with your views. I think he is paying ST on 30 % in terms of Notifica .....

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f rule 2A of Service Tax (Determination of Value) Rules, 2006 it is laid down that in case of works contracts entered into for execution of original works, service tax shall be payable on forty per cent. of the total amount charged for the works cont .....

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r partly, except where entire consideration is received after issuance of completion certificate by the competent authority,- (a) for a residential unit satisfying both the following conditions, namely:- (i) the carpet area of the unit is less than 2 .....

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land is included in the amount charged from the service receiver.] (b) for other than the (a) above. 30 In my opinion the exemption Notification give more abatement than that given in the Valuation Rules. Here Chandrasekhar Sir has availed Sl. No 12 .....

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nction with Notifications on the subject. If carpet is more than 2000 Square feet and amount charged is more than one crore, that residential building would also be covered under the category (b) attracting ST @ 30%. Do you agree ? Sir. Just for know .....

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