AVAILING SERVICE TAX CREDIT PRIOR TO MAKING PAYMENT OF SERVICE TAX IS PERMISSIBLE BUT THE ASSESSEE IS LIABLE TO PAY INTEREST AND PENALTY

AVAILING SERVICE TAX CREDIT PRIOR TO MAKING PAYMENT OF SERVICE TAX IS PERMISSIBLE BUT THE ASSESSEE IS LIABLE TO PAY INTEREST AND PENALTY https://www.taxtmi.com/article/detailed?id=1234 The CENVAT Credit Rules link entitlement to service tax credit on input services to prescribed conditions, notably payment of the service value and service tax to the provider; taking credit on invoices without payment may be regularized by subsequent payment to a genuine registered provider, but the recipient remains liable for interest for the interim period and for any penalty imposed for contravening the payment-linked condition. en-us Mon, 04 Apr 2011 07:08:12 +0530 Tue, 05 Apr 2011 07:14:08 +0530 TaxTMI RSS Generator AVAILING SERVICE TAX CREDIT PRIOR TO MAKING PAYMENT OF SERVICE TAX IS PERMISSIBLE BUT THE ASSESSEE IS LIABLE TO PAY INTEREST AND PENALTY https://www.taxtmi.com/article/detailed?id=1234 The CENVAT Credit Rules link entitlement to service tax credit on input services to prescribed conditions, notably payment of the service value and service tax to the provider; taking credit on invoices without payment may be regularized by subsequent payment to a genuine registered provider, but the recipient remains liable for interest for the interim period and for any penalty imposed for contravening the payment-linked condition. Articles Cenvat Credit Mon, 04 Apr 2011 07:08:12 +0530 https://www.taxtmi.com/article/detailed?id=1234