TaxTMI 
TaxTMI 
TaxTMI 
CENVET CREDIT ON THE BASIS OF REIMBURMENT INVOICE
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....ENVET CREDIT ON THE BASIS OF REIMBURMENT INVOICE<br> Query (Issue) Started By: - hardik thacker Dated:- 11-9-2015 Last Reply Date:- 16-9-2015 Service Tax<br>Got 2 Replies<br>Service Tax<br>SIR, I AM WORKING IN ON THE GOVT. ORGANISATION IN OUR ORGANIZATION ALL WORKS CONTRACT ARE CONTAINS THE CLAUSE THAT "THE SERVICE TAX WILL REIMBURSE TO SERVICE PROVIDER ONLY ON PRODUCING PROOF OF PAYMENT OF....
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.... SERVICE TAX." E.G ONE PARTY HAS RAISED FIVE INVOICE WITH SERVICE TAX IN DIFFERENT TIME OF THE YEAR. HOWEVER OUR ORGANIZATION WILL PAY ONLY SERVICE VALUE AT THAT TIME NOW FOR CLAIMING SERVICE TAX THE SAME PARTY WILL ISSUE "SEPARATE CLAIM" WITH PROOF OF PAYMENT OF THE SAME. AT THE TIME OF REIMBURSEMENT OF SERVICE TAX THE TIME LIMIT OF ONE YEAR HAS BEEN ALREADY ELAPSED. MY QUERY....
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.... IS THAT, WHETHER CENVAT CREDIT CAN BE TAKEN ON THE BASIS OF SUCH "SEPARATE CLAIM" Reply By KASTURI SETHI: The Reply: Yes. Cenvat credit of Service Tax can be taken. There are two basic parameters. These are:- Service Tax should be paid on input service and it can be utilised only for payment of taxable output service or dutiable excisable goods. No doubt such "SEPARATE CLAIM&qu....
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....ot; is not prescribed document for taking credit but as per definition of "gross amount charged" in Explanation (c) to Section 67 of the Finance Act, 1994 (Below Para no.4) mode of payment of Service Tax is valid as per law. Payment of ST through reimbursement by way of separate claim is valid and credit can be taken. Reply By hardik thacker: The Reply: Thank you very much sir, I was ....
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....in confusion since long.. Thank you.<br> Discussion Forum - Knowledge Sharing ....