Please Help: service tax input
Posted Date : 15-Apr-2014 , 10:00:54 pm | Posted By: Babita
Category :
Service Tax | Answers :
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Comments :
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As per rule 6(3B) of CCR 2004, bank has to reverse 50% of cenvat taken in a relevant month.
Is this applies input taken on capital goods also?
Kindly quote the relevant rule and try to reply ASAP.
Thanks in advance |
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| Posted By : SARTHAK JAIN |
16-Apr-2014, 11:29:32 |
| No,rule 6(3B) do not take into its ambit input on capital goods. I applies to only inputs and input service. You may refer rule 6(3B) itself for such clarity, which is reproduced here as -
"[(3B) Notwithstanding anything contained in sub-rules (1), (2) and (3), a
banking company and a financial institution including a non-banking financial
company, [engaged in providing services by way of extending deposits, loans
or advances], shall pay for every month an amount equal to fifty per cent. of
the CENVAT credit availed on inputs and input services in that month." |
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