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Service Tax Credit

Service Tax - Started By: - SURYAKANT MITHBAVKAR - Dated:- 21-3-2016 Last Replied Date:- 25-3-2016 - We have booked professional fees bill for our consultant but payment will made on after one year period. While taking we are assuming date of payment to consultant which is current.The above case the is availed after one year from the date of invoice issued by consultant but immediate after payment made to consultant.Please advise whether the above credit is permissible under rule of . - Reply By .....

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he invoice, bill or, as the case may be, challan, the manufacturer or the service provider who has taken credit on such input service, shall pay an amount equal to the CENVAT credit availed on such input service, except an amount equal to the CENVAT credit of the tax that is paid by the manufacturer or the service provider as recipient of service, and in case the said payment is made, the manufacturer or output service provider, as the case may be, shall be entitled to take the credit of the amo .....

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the date of the bill. The last sentence of the proviso stipulates that subject to the other provisions of these rules . This provision will act as villain against you since the third proviso of rule 4 (1) stipulates that the manufacturer or the provider of output service shall not take CENVAT credit after one year of the date of issue of any of the documents specified in sub- rule (1) of rule 9 . However in my view you case is arguable one. - Reply By Ganeshan Kalyani - The Reply = I endorse the .....

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ate of bill will not apply. - Reply By Ganeshan Kalyani - The Reply = Sri Rajagopalan Sir, with due respect to you I would like to say that this may be allowed by department if the situation was not known to the assesse. He took the credit first and due to unsettled dispute the payment was not made and again after the matter is settled and payment is made the credit which was reversed is allowed to take. Here the querist is aware that payment is going to be made only after a year. Hence I feel t .....

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