https://www.taxtmi.com/article/detailed?id=510 Inter-company book adjustments between associated enterprises are included within the gross amount charged for service tax; any amount credited or debited in the service provider's books triggers service tax liability (including under reverse charge for foreign associated enterprises). However, Rule 4(7) of the Cenvat Credit Rules permits input service credit only upon payment and invoicing, creating an anomaly whereby recipients who incur service tax on book adjustments cannot immediately avail Cenvat credit until payment is made. en-us Wed, 30 Sep 2009 16:04:53 +0530 Tue, 15 Dec 2009 15:57:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=510 Inter-company book adjustments between associated enterprises are included within the gross amount charged for service tax; any amount credited or debited in the service provider's books triggers service tax liability (including under reverse charge for foreign associated enterprises). However, Rule 4(7) of the Cenvat Credit Rules permits input service credit only upon payment and invoicing, creating an anomaly whereby recipients who incur service tax on book adjustments cannot immediately avail Cenvat credit until payment is made. Articles Cenvat Credit Wed, 30 Sep 2009 16:04:53 +0530 https://www.taxtmi.com/article/detailed?id=510