TaxTMI 
TaxTMI 
Input credit of service tax
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....nput credit of service tax<br> Query (Issue) Started By: - Preeti Dated:- 1-9-2006 Last Reply Date:- 3-9-2006 Service Tax<br>Got 2 Replies<br>Service Tax<br>If the service provider is in providing ser....
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....vice as well as tradgin opf goods, and the services he receives are used for boht purpose like telphone and all , so the input tax will be allowed 100% or 20%. Reply By Surender Gupta: The Reply: In ....
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....your case, Cenvat Credit is allowed to the extent of 20% of output service tax liability. Reply By Madhukar N Hiregange: The Reply: Dear Preeti, When along with taxable servcies exempted services or ....
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....non taxable servcies are provided then the restriction applies. In my view though not specifically stated, if trading is also done the restriction should apply. You would be allowed to avail of 100% c....
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....redit on the following: a. Services used exclusively for providing taxable services. b. 100% on common inputs specified in 6(5) such as management consultacny, etc. c. 20% of OUTPUT TAX payable for th....
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....e other common services. Now it is not clear whether all are mutually exclusive. We are of the opinion that the credits are available indivdiually. You may have to account for the same separately.<br>....
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