https://www.taxtmi.com/caselaws?id=284789 Rule 4(7) of the Cenvat Credit Rules, 2004 permits credit of service tax reflected in a subcontractor's invoice where that tax has been paid, even if part of the invoice value is retained as a security deposit. The Tribunal, following CBEC Circular No. 122/3/2010-ST and its earlier view on the same issue, held that credit cannot be curtailed merely because the assessee has not immediately paid the full billed amount to the service provider. The operative consideration is payment of the service tax shown in the invoice, not settlement of the entire taxable value at the same time. Full Cenvat credit was therefore admissible. en-us Thu, 27 Sep 2018 00:00:00 +0530 Tue, 10 Dec 2019 20:22:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284789 Rule 4(7) of the Cenvat Credit Rules, 2004 permits credit of service tax reflected in a subcontractor's invoice where that tax has been paid, even if part of the invoice value is retained as a security deposit. The Tribunal, following CBEC Circular No. 122/3/2010-ST and its earlier view on the same issue, held that credit cannot be curtailed merely because the assessee has not immediately paid the full billed amount to the service provider. The operative consideration is payment of the service tax shown in the invoice, not settlement of the entire taxable value at the same time. Full Cenvat credit was therefore admissible. Case-Laws Service Tax Thu, 27 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284789