Option to decline small-provider exemption allows service providers to pay service tax and claim CENVAT credit from that date. Service providers may elect during a financial year to forego the small-provider value-based exemption and pay service tax, but the election is ... Summary
Option to decline small-provider exemption allows service providers to pay service tax and claim CENVAT credit from that date.
Service providers may elect during a financial year to forego the small-provider value-based exemption and pay service tax, but the election is irrevocable for that financial year. Upon electing to pay service tax, the provider may avail CENVAT credit only for inputs or input services received on or after the date service tax payments commence and used for taxable services for which service tax is payable.
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TaxTMI 
TaxTMI 
