TaxTMI 
TaxTMI 
Setting Off Service tax payable against Input Service Tax Credit
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....etting Off Service tax payable against Input Service Tax Credit<br> Query (Issue) Started By: - Sivakumar S Dated:- 13-12-2012 Last Reply Date:- 14-12-2012 Service Tax<br>Got 2 Replies<br>Service Tax<....
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....br>My input service tax credit amount is more than the actual service tax payable by me. I am not sure whether I can set off the entire service tax payable against my input service tax credit (some pe....
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....ople are advising me that there is a cap on setting off input ax credit in terms of %age). As every month my input service tax credit is more than the actual service tax payable, please advise me as t....
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....o what amount I can set off and what is the mandatory tax payable. thanks and regards, Sivakumar S Reply By Pradeep Khatri: The Reply: Please check the following aspects, namely: * Whether you a....
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....re availing the CENVAT credit on the Input Services as per the amended definition of the the Input services or not? * Whether you fall under the catergory of Inflated Service Tax i.e. Tax on input s....
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....ervices are more than of output services? * Whether there is any export of services? * Whether you had applied for exemptions and refund for the input services under the provisions of export of se....
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....rvices or not? Reply By JAMES PG: The Reply: Claiming abatement for payment of Service Tax and availing Cenvat credit, carrying on Trading activity also to be looked into.<br> Discussion Forum - Kno....
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