Amendments in the Service Tax Credit Rules, 2002

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.... the following rules, further to amend the Service Tax Credit Rules, 2002, except as respect things done or omitted to be done before such amendment ,namely :- 1. Short title and commencement.- (1) These rules may be called the Service Tax Credit (Second Amendment) Rules, 2003. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Service Ta....

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....taken on such input service for which invoice or bill or challan is issued on or after the fourteenth day of May, 2003: Provided that the output service provider shall be allowed to take such credit, on or after the day on which he makes payment of the value of input service and the service tax paid or payable as indicated in invoice or bill or challan referred to in sub-rule (1) of rule 5."; ....

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....ervice provider shall maintain separate accounts for receipt and consumption of input service meant for consumption in relation to rendering of output services which are chargeable to service tax and the inputs service meant for consumption in relation to rendering of output services which are exempted services or non-taxable services, as the case may be. The service provider shall take credit onl....