% of Cenvat Credit for input service on abated service like Restaurant etc. wef.01.04.16

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..... % of Cenvat Credit for input service on abated service like Restaurant etc. wef.01.04.16
Query (Issue) Started By: - jai prakash Dated:- 16-6-2016 Last Reply Date:- 21-6-2016 Service Tax
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Service Tax
Dear All, Please guide me on following: Wef 01.04.2016 Cenvat credit for input service tax will be available on proportionate basis. Is this correct? Eg. In case of restau .....

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..... rant service, 40% is the taxable value under service tax. In case of rent paid for the restaurant only 40% will be considered for input credit. Suppose ₹ 1,00,000 paid as monthly rent than ͅ .....

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..... 7; 40,000 will be considered for input credit. Reference of section, rule will be helpful for me. Thanks Jai Prakash Reply By KASTURI SETHI: The Reply: Sh.Jai Prakash Ji, In my view, there is no .....

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..... such amendment in Cenvat Credit Rules, 2004. Reply By Rajagopalan Ranganathan: The Reply: Sir, As a service receiver you are eligible to take credit of full amount of service tax paid by your serv .....

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..... ice provider. Question of availing abatement pertains only to the person who pays the service tax. Reply By Ganeshan Kalyani: The Reply: Sir, I agree with both the experts view. Thanks.
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