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Cenvat credit reverse against Discount

Service Tax - Started By: - RAM SHARMA - Dated:- 1-9-2016 Last Replied Date:- 4-9-2016 - Dear Experts,We are a manufacturer unit. We are availing extra discount on some input services after cross the certain limit. Whether we have to reverse cenvat credit on such input services due to raise the debit note for availing the discount. Pl advice.Thanks - Reply By CS SANJAY MALHOTRA - The Reply = Dear Mr. Sharma,No CENVAT Credit reversal is required for subsequent discounts until and unless the suppl .....

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uess the querist intend to say that - he has availed service tax credit on input service and adjusted against his output excise duty payable. Now since he is a regularly availing service from a particular service provider he got a discount by way of debit/credit note, as the case may be. Now that he has to paid less to the service provider to the extent of discount, whether he is required to reverse the Cenvat credit already taken based on the invoice. (Please validate my assumption).If the case .....

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' is an instrument in the eyes of the department for additional consideration to fetch more revenue in Govt.'s kitty.. Whenever audit is conducted, every audit team asks for debit notes to examine additional consideration. Just for knowledge sake. - Reply By RAM SHARMA - The Reply = Mr. Ganeshan Kalyani Sir assumtion is right. We are availing service tax cenvat and adjusted against excise duty payable. For example we are availing cenvat credit on freight up to place of removal. After cro .....

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upply' in GST. The whole scenario will change after implementation of GST BUT FRAMEWORK (ESSENCE) WILL REMAIN SAME.In other words, sections,rules etc. will be given new nomenclature but will not loose it original character in its essence. This is my view. - Reply By CS SANJAY MALHOTRA - The Reply = Dear Friends,Discount not known at the time of removal of goods forms part of Assessable Value and accordingly duty is to be paid on removal. (Exception is Provisional assessment). Any discount gi .....

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