Service tax credit: amendments allow credit tied to invoicing and payment, mandate account separation or capped use, restrict telephone credit. Amendments to the Service Tax Credit Rules, 2002 recalibrate entitlement to service tax credit by substituting 'service' for 'taxable service', prescribing invoice date and payment conditions for claiming credit, requiring separate accounting or, alternatively, limiting credit utilization for providers of both taxable and exempt or non taxable outputs, and restricting credit for telephone connection services to connections installed at premises where output services are rendered.
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Provisions expressly mentioned in the judgment/order text.
Service tax credit: amendments allow credit tied to invoicing and payment, mandate account separation or capped use, restrict telephone credit.
Amendments to the Service Tax Credit Rules, 2002 recalibrate entitlement to service tax credit by substituting "service" for "taxable service", prescribing invoice date and payment conditions for claiming credit, requiring separate accounting or, alternatively, limiting credit utilization for providers of both taxable and exempt or non taxable outputs, and restricting credit for telephone connection services to connections installed at premises where output services are rendered.
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