service tax rules (sushil aggarwal)

SERVICE TAX RULES

Sushil AggarwalSushil Aggarwal

ASAP & ASSOCIATESASAP & ASSOCIATES

Chartered Accountants

New Delhi 110 001.

[email protected]

Ph. 2337 1637, 2337 1937

9560196060

REGISTRATIONREGISTRATIONRETURNSRETURNSPAYMENT OF SERVICE TAXPAYMENT OF SERVICE TAXCLASSIFICATION OF SERVICESCLASSIFICATION OF SERVICESASSESSMENTSASSESSMENTSDOCUMENTS AND RECORDSDOCUMENTS AND RECORDS

Registration

Under Section 69(1) of the Act, following category of person

must mandatorily obtain registration:

Every person liable to pay service tax

An Input Service Distributor

Every provider of taxable service whose aggregate value

of taxable service* in a financial year exceeds Rs 9 Lakhs

*Aggregate value of taxable service means sum total of first consecutive

payments received during a financial year towards gross amount but does not

include payment received towards fully exempted service.

04/07/23 3

Registration

This is a mandatory requirement, even if his likely

turnover does not exceed Rs. 10.00 lakhs in the relevant

financial year; he has to apply for registration after

crossing the limit of Rs. 9.00 lakhs.

04/07/23 4

BASIC EXEMPTION

However as per Notification No. 33/2012 dt. 20th June, 2012

there is an exemption of taxable services of aggregate value

not exceeding ten lakh rupees in any financial year from the

whole of the service tax leviable thereon.

“aggregate value” means the sum total of value of taxable

services charged in the first consecutive invoices issued during

a financial year but does not include value charged in invoices

issued towards such services which are exempt from whole of

service tax leviable thereon under section 66B of the said

Finance Act under any other notification.

04/07/23 5

The above provision shall not apply if:

taxable services provided by a person under a brand name

or trade name, whether registered or not, of another person

such value of taxable services in respect of which service

tax shall be paid by such person and in such manner as

specified under sub-section (2) of section 68 of the said

Finance Act read with Service Tax Rules,1994

04/07/23 6

BASIC EXEMPTION

The exemption stated above is available subject to the

following further conditions:

the aggregate value of taxable services rendered by a

provider of taxable service from one or more premises,

does not exceed ten lakh rupees in the preceding financial

year.

the provider of taxable service has the option not to avail

the exemption contained in this notification and pay service

tax on the taxable services provided by him and such

option, once exercised in a financial year, shall not be

withdrawn during the remaining part of such financial year

04/07/23 7

BASIC EXEMPTION

the provider of taxable service shall not avail the CENVAT

credit of service tax paid on any inputs, input services or

Capital Goods, under CENVAT Credit Rules, 2004.

where a taxable service provider provides one or more taxable

services from one or more premises, the exemption under this

notification shall apply to the aggregate value of all such

taxable services and from all such premises and not separately

for each premises or each services

For the purpose of this exemption, a GTA can exclude from the

gross amount the portion of receipt where the liability to deposit

tax is on the recipient.

04/07/23 8

BASIC EXEMPTION

Voluntary Registration

04/07/23 9

Assessee can take voluntary registration also and he has the

option of claiming basic exemption of Rs 10 lakhs. He also

has the option of not to avail the said exemption and pay

service tax from rupee 1 and such option if exercised shall

not be withdrawn during the remaining part of such financial

year. He is also liable to file return.

Time Limit for Making Application for Service Tax Registration

04/07/23 10

1.Persons who are liable to pay service tax: Under Rule 4(1),

the application shall be filed within 30 days from the date on

which levy of service tax is brought into force in respect of

such service. If a person commence business of providing

taxable service after such service has been notified, he is

required to make an application for registration within a

period of 30 days from the date of commencement of such

business.

2. Input Service Distributor: An Input Service Distributor must make the application within a period of 30 days of the commencement of business.

3. Small Scale Service Provider: They must make application within a period of 30 days of the date in the financial year in which the aggregate value of taxable service has exceeded Rs 9 lakhs.

04/07/23 11

When more than one service is provided

If same assessee provides more than one taxable service, then

single application will be sufficient mentioning therein all the

taxable services and there would not be separate applications

for each of such taxable services

04/07/23 12

Time Limit for Granting Registration

The Form should be signed by the director/ partner/sole

proprietor as the case may be or the authorized signatory. If the

particulars stated in the Form are correct, then the registration

certificate would be provided within a period of 7 days of the

receipt of the application. In case of failure to issue registration

certificate within 7 days the registration applied for is deemed

to have been granted except in case of Centralised

Registration.

04/07/23 13

Centralized Registration

04/07/23 14

Where the assessee is having more than one office and does not have either central accounting system or central billing system, he is required to obtain separate registration for each premise.

Under sub rule (2) and (3) of rule, where a person liable for paying service tax

provides such service from more than one premises or offices,

receives such services in more than one premise or offices, is having more than one premises or offices, which are

engaged in relation to such service in any other manner, making such person liable for paying service tax

Centralized Registration

04/07/23 15

and has centralized accounting and billing system, may at his option, register such premises or offices from where centralized billing or centralized accounting systems are located.

Accordingly the centralized registration shall be granted only by the Commissioner of Central Excise under whose jurisdiction the premises or offices, from where centralized billing or accounting is done, are located.

Earlier the facility for Centralized registration was available only to the provider of output taxable services.

Now in addition to service receivers, Input Service Distributors can also seek centralised registration.

Documents Required for Service Tax Registration

04/07/23 16

Application for Registration in Form ST-1 duly signed

Copy of Permanent Account Number (PAN)

Proof of address of premises (Rent Agreement/Lease Deed/ Annual

Property tax Payment return/receipt etc)

Proof of address of partners/proprietor

Copy MOA/ AOA in case of Company

Copy of Board Resolution in case of Companies

Registration Certificate of Partnership Firm / Partnership Deed

Power of Attorney in respect of authorised person(s)

The above documents must be submitted within 15 days from filing of

Application

Miscellaneous Provision1. Service tax registration cannot be refused and cannot be

granted in category not applied for. Further, Commissioner

and Superintendent of Central Excise have no power to

grant registration on their own

2. Business Transferred: Under rule 4(6), when a registered

assessed transfers his business then transferee should

obtain fresh registration.

3. Sole Proprietorship Business in two different names in the

same premise: Assessee has to obtain two separate

registration numbers on the same PAN.

04/07/23 17

AMENDMENT IN REGISTRATION

04/07/23 18

Earlier there was no specific provision in the Service Tax Rules, but Sub Rule 5A has been inserted with effect from 1-3-2006 vide notification no. 5/2006 ST dated 1-3-2006 to make it mandatory that all the changes in the ST-1 must be informed within 30 days from the date of such change.

Further, such changes shall be intimated in writing to the jurisdictional Assistant Commissioner or Deputy Commissioner of Central Excise, as the case may be.

Intimation to the Superintendent of the Central Excise / Service Tax will not be sufficient.

Procedure for Registration

The assessee shall make an application online at

www.aces.gov.in. For online application following

procedure shall be adhered:

04/07/23 19

04/07/23 20

The user first log onto the site aces.gov.in and and select “Service Tax” option on the left side

Register himself by clicking on “New Users to click here to Register with ACES” option

04/07/23 21

Provide the required details and e-mail id. The password for such registration will be sent to this email id

04/07/23 22

After online registration, for new assessee who does not have service tax registration certificate, login with the user id & password and select option “REG” and “Fill ST-1”

04/07/23 23

The Form ST-1 shall be filed online with all the required details and submitted online itself.

A print out of the form submitted online shall be taken and along with the necessary documents shall be submitted to the department at the concerned commissionerate.

04/07/23 24

Existing assessee shall fill in the “Declaration Form for ACES” (in Appendix I) and submit it to the respective commissionerate. The assessee will then receive a user id & password at the mail id specified in such form to activate his registration number in ACES. He is not required to fill Form ST-1 again in ACES

04/07/23 25

Take the print out of Form ST-2 available online at aces website and send the same along with covering letter to Department for their stamping and signing.

04/07/23 26

Premise Code

04/07/23 27

Premise code is a 10 character number comprising 9

numbers & 1 alphabet. The first 6 character represents

jurisdiction of tax payer i.e Commissionerate, Division and

Range. The last 4 characters including one alphabet

represents number of premise held by tax payer. Premise

code is mandatory field in return since it helps ACES

putting/tracking the tax payers return on the right desk of

his jurisdictional service tax officer. Premise code is

available in ST-2 registration certificate.

Surrender of Registration Certificate

04/07/23 28

If an assessee cease to provide taxable services or opts for

exemption may surrender his registration by furnishing an

undertaking to comply with the conditions specified to

Superintendent of Service Tax. It shall be filed alongwith

registration certificate in original.

If an assessee cease to provide the taxable service for which

he is registered, shall surrender his registration certificate to

Superintendent of Central Excise.

Procedure to Surrender Registration Online

04/07/23 29

Submit online request for surrendering the Registration

Certificate through ACES in Surrender submenu in REG

Menu

04/07/23 30

Click on the Registration number hyperlink

04/07/23 31

Fill up reason for surrendering & other necessary details and

click on Surrender ST-2

04/07/23 32

When the surrender request submitted by the assessee,

approval process pass through the Superintendent and then

AC/DC

Assessee should receive an auto generated mail from the

system once your surrender request is accepted or

approved

Assessee will not be able to login to ACES once

registration has been surrendered.

Documents Required for Surrender of Registration

04/07/23 33

Filled Application for surrender with signature of the

Director/Partner/Proprietor/Authorized person at the end of

application

ST-2 issued by the Department

Copy of Last ST-3 return filed as on the date of surrender

Reason for surrender

Declaration for the surrender of ST-2.

RETURNSRETURNSPAYMENT OF SERVICE TAXPAYMENT OF SERVICE TAXCLASSIFICATION OF SERVICESCLASSIFICATION OF SERVICESASSESSMENTSASSESSMENTSDOCUMENTS AND RECORDSDOCUMENTS AND RECORDS

Service Tax ReturnAs per Section 70 of the Act any person liable to pay the service tax shall be required to file return on half yearly basis in Form ST-3. Where a person is allowed to file service tax on provisional basis, he has to file a return in Form ST-3A alongwith a return in Form ST-3 and relevant documents.

For the half year ending 30th September return shall be submitted by 25th October.

For the half year ending 31st March, return shall be submitted by 25th April.

A single service tax return should be filed in respect of all taxable services provided by an assessee.

04/07/23 35

Service Tax ReturnDetails of the account maintained

While filing the fist return of service tax, every assessee must furnish a list of all accounts maintained by the assessee in relation to service tax, including memoranda received from his branch offices. Rule 5(2)

It is a one time exercise.

With effect from 1-10-20011, it is mandatory for all the assessee to submit returns electronically. Returns can be filed by visiting the site http://aces.gov.in/

Nil Return: If a person gets himself registered with the service tax department, he has to follow all the procedures and submit all returns.

04/07/23 36

Service Tax Return

Therefore, even if he is not providing any service or not liable to pay any service Tax during a period he is required to file the returns, be it a NIL return.

In some instances, the tribunal has taken a liberal stand for non filing or late filing of NIL return.

Revision of Return: In case there is a mistake or omission in the original return, a revised return can be filed with in a period of 90 days from the date of filing of original return. For the purpose of raising a demand and recovery of dues or refund, the date of revised return shall be considered.

On Line return can be filed either by filling data online or by downloading utility, preparing return offline and uploading it.

04/07/23 37

Online Filling of Data in Service Tax Return and then submit it

After login into ACES by entering user id and password,

home page of assessee will appear. Go to ‘RET’ Main

Menu-Click on the ‘Fill’ option of ‘Fill ST-3’ submenu

04/07/23 38

After clicking on Fill option page will appear listing the Premises Code and Address of the registered premises of the assessee.

04/07/23 39

Click on Premise code hyperlink to prepare the ST-3 Return

04/07/23 40

After Filling the service tax return correctly, Click on the “SAVE” Button appearing on last page and confirmation page of ST-3 will appear

To amend, Click on the “Modify” button or “Save” to store the return in the database

To Submit the ST-3 Return to the department, press “Submit” button

04/07/23 41

Offline Filling of Data in Excel Utility & Upload

Click on ‘Download’ button provided on the left side of ACES Homepage and download excel utility by clicking on “Download ST-3 Return Excel Utility” i.e RET

04/07/23 42

Use the excel utility downloaded to prepare ST-3 return.

04/07/23 43

Fill up the necessary details in the excel sheet and select the service and other sheets add automatically after adding service from service list

04/07/23 44

There are separate sheet for each taxable service. Fill up the details as applicable in the sheet. Add notification for abatement or exemption if applicable to any service. There are separate columns for service taxable as service provider and service receiver. In service providers ‘Gross Amount’ column fill up the amount received against service provided or advance for service provided.

04/07/23 45

Fill up the details of exempted service or service on which service tax is not payable in separate columns provided. Also fill up the abatement amount claimed separately.

04/07/23 46

In service receivers ‘Gross Amount’ column fill up the amount paid against service received or advance paid for service to be received.

04/07/23 47

Fill up the details of exempted service or service on which service tax is not payable in separate columns provided

04/07/23 48

If service tax paid in advance then it is shown in ‘Advance Payment’ Sheet of excel utility.

04/07/23 49

All the service tax paid in cash or through cenvat credit or by adjustment shown in ‘Paid-Service’ Sheet. There are separate columns for service tax, education cess, secondary and higher education cess and other amount.

04/07/23 50

In Challan sheet fill up the details of all the challan paid for all the services. Challan number format should be 7 digit BSR Code followed by the date of submission of the challan in the form DDMMYYYY followed by a 5 digit running serial no of challan. If excess or advance service tax paid in earlier period, then it also shown in the ‘Challan-Service’ Sheet in below table

04/07/23 51

04/07/23 52

Fill up the service tax paid through Cenvat credit in ‘Cenvat’ sheet of excel utility. Show different amount for service tax, education cess & secondary and higher & education cess. There are separate columns for Cenvat Credit taken and cenvat credit utilized, balance if any after utilization can be carry forward to next period.

04/07/23 ASAP & Associates, CAs 53

After filling all the details in excel utility, the up the necessary details required in ‘Distributor’ Sheet, click of Validate Return & Submit. After clicking, if there is no error shown, then xml file generated can be uploaded at aces website after login. If there is any error shown then correct the same and generate the xml again.

04/07/23 54

The xml file will be saved in the same folder where the download utility is saved.

To upload the ST-3 return, login into ACES by entering the user id and password. Click on “Upload File” option of “e-filing” submenu under RET

04/07/23 55

After uploading the xml file click on “Save” button and then click on “Submit” button to file the return

04/07/23 56

After uploading click on “View xml Status” option of e-filing submenu under “RET” menu to view status of return.

04/07/23 57

PAYMENT OF SERVICE TAXPAYMENT OF SERVICE TAXCLASSIFICATION OF SERVICESCLASSIFICATION OF SERVICESASSESSMENTSASSESSMENTSDOCUMENTS AND RECORDSDOCUMENTS AND RECORDS

Payment of Service Tax Service Tax on service provided can be paid either through cenvat

credit or by credit to the Central Government. Service Tax on service received i.e Reverse Charge can be paid only

by credit to the Central Government. CENVAT can be taken, where available, for service tax paid on reverse charge basis, only after its payment.

As per Rule 6 read with section 68 of the Act, the service is required to be paid on monthly basis by all service tax payers other than individuals or proprietary or partnership concerns who are required to pay on quarterly basis.

Service tax is to be paid by the 5th (6th in case of electronic transfer) day of the month following the month or quarter, as the case may. However, for the month/quarter ending March, the payment is required to be made by 31st March. Where the due date is a holiday tax can be deposited on the next working day. Cir. 63/12/2003 St dated 14/10/2003

04/07/23 59

Provided also that in case of individuals and partnership firms whose aggregate value of taxable services provided from one or more premises is fifty lakh rupees or less in the previous financial year, the service provider shall have the option to pay tax on taxable services, provided or agreed to be provided, by him up to a total of rupees fifty lakhs in the current financial year, by the dates specified in this sub-rule with respect to the month or quarter, as the case may be, in which payment is received.

Provided that where an assessee has paid a total service tax of rupees one lakh or more (Not.No16/2013-STdt.22/11/2013 w.e.f. 1/1/2014) including the amount paid by utilisation of CENVAT credit, in the preceding financial year, he shall deposit the service tax liable to be paid by him electronically, through internet banking.

04/07/23 60

If Service tax deposited in wrong category, then the assessee is not liable to pay tax again and he can adjust the amount already paid under wrong category against his liability.

ADVANCE SERVICE TAX: Every person liable to pay service tax, may, on his own volition, pay an amount as service tax in advance, to the credit of the Central Government and adjust the amount so paid against the service tax which he is liable to pay for the subsequent period. The assessee shall however:

(i) intimate the details of the amount of service tax paid in advance, to the jurisdictional Superintendent of Central Excise within a period of fifteen days from the date of such payment; and

(ii) indicate the details of the advance payment made, and its adjustment, if any in the subsequent return.

04/07/23 61

Excess Payment of Service Tax

Rule 6(4A) read with rule 6(4B) of ST Rules

Where an assessee has paid service tax in excess, he may adjust such excess payment against liability in succeeding period.

Prior to 1.4.2012 assessee was required to submit intimation to superintendent after adjusting such excess.This condition has been removed. There is now no limit on the amount of excess amount that can be so adjusted.

Excess amount can arise for reasons other than interpretation of law, taxability, classification, valuation or applicability of any exemption notification.

Thus there is a significant difference between nomenclature and treatment of advance payment and excess payment.

04/07/23 62

For the purpose this rule, if the assessee deposits the service tax by cheque, the date of presentation of cheque to the bank designated by the Central Board of Excise and Customs for this purpose shall be deemed to be the date on which service tax has been paid subject to realization of that cheque.

Where an assessee has issued an invoice, or received any payment, against a service to be provided which is not so provided by him either wholly or partially for any reason or where the amount of invoice is renegotiated due to deficient provision of service, or any terms contained in a contract. the assessee may take the credit of such excess service tax paid by him, if the assessee.-

(a) has refunded the payment or part thereof, so received for the service provided to the person from whom it was received; or (b) has issued a credit note for the value of the service not so provided to the person to whom such an invoice had been issued.

04/07/23 63

CLASSIFICATION OF SERVICESCLASSIFICATION OF SERVICESASSESSMENTSASSESSMENTSDOCUMENTS AND RECORDSDOCUMENTS AND RECORDS

Principles of interpretation of specified descriptions of services or bundled services - Section 66F

Though with negative list introduction the need for descriptions of services is redundant yet in the following areas classifications continue to exist leading to avoidable confusions – Definition of Service Entries in negative list of services. Entries in declared list of services. Entries in exemption notifications. Specifications in the POPS Rules, 2012

04/07/23 65


(1) Unless otherwise specified, reference to a service shall not include reference to a service which is used for providing main service. Thus if main service is exempt the services used for providing main services would not get that exemption automatically.

(2) Where a service is capable of differential treatment for any purpose based on its description, the most specific description shall be preferred over a more general description.

(3) Subject to the provisions of sub-section (2), the taxability of a bundled service shall be determined in the following manner, namely:

04/07/23 66


(a) if various elements of such service are naturally bundled in the ordinary course of business, it shall be treated as provision of the single service which gives such bundle its essential character; The TRU has clarified that some of the indicators to determine whether the services are bundled in the ordinary course of business are:the perception or expectation of the consumer/recipient of the

service;the general practice of service providers in a particular area of

business;the nature of various services in the bundle of services;

04/07/23 67


there is a single price or the customer pays the same amount, no matter how much of the package they actually receive or use.

the elements are normally advertised as a package.the different elements are not available separately.the different elements are integral to one overall supply – if

one or more is removed, the nature of the supply would be affected.

Thus services like catering on board a train / airplane as part of standard fare, Boarding School, Pick-up-drop, laundry, breakfast, sightseeing as part of room rent package would lie in this category. Turnkey projects requiring compulsory warranty / AMC for 3 years of new construction would lie under new construction only.

04/07/23 68


(b) if various elements of such service are not naturally bundled in the ordinary course of business, it shall be treated as provision of the single service which results in highest liability of service tax. e.g. a contract for advertisement on TV and hoardings. Ad on hoardings is exempt while Ad on TV is taxable. If the contract is common and indivisible the full amount would be liable to service tax. Similarly in case of a single rental agreement where property is used for residential as well as commercial purpose, tax will apply on whole of the transaction.

04/07/23 69

ASSESSMENTSASSESSMENTSDOCUMENTS AND RECORDSDOCUMENTS AND RECORDS

Assessment

04/07/23 71

Self Assessment: Under Section 70(1) of the Act, every assessee is required to himself assess the tax due on the services provided by him and furnish a return to Superintendent of Central Excise in the prescribed manner. There is no other explicit assessment procedure.

The authorities can invoke Section 14 of the CE Act and issue summons to assessee to attend the office or to produce a document or other thing in an enquiry including verification of return.

Section 73 provides for recovery of tax not levied or paid or short-levied or short-paid or erroneously refunded. Implementation of this section is also possible only by invoking section 14 of the CE Act.

Provisional Assessment

04/07/23 72

Provisional Assessment: As per Rule 6, where an assessee is for any reason, unable to correctly estimate on the date of deposit, the actual amount payable for any particular month / quarter, as the case may be, he may make a request in writing to the AC/DC citing reasons for payment on provisional basis. The AC/DC may allow payment on provisional basis on such value of taxable service as may be specified. The provisions of CE Rules (Rule 7) shall apply accordingly. It is specifically provided that no security bond as required in CE rules shall be required in this case.

04/07/23 73

Assessee must file a statement giving details of the difference between the service tax paid and service tax liability for each month/quarter in a memorandum in Form ST-3A accompanying the return.

The non filing of Form ST-3A along with the return cannot, however mean that the assessment is not provisional. This is basically to enable the Assessing Officer to make correct final assessment. Formal assessment to be made by the AO in 6 months.

04/07/23 74

Best Judgment Assessment Revived: Section 72 has been reintroduced by Finance Act, 2008. If any person liable to pay service tax

- fails to furnish the return under Section 70

- having made a return, fails to assess the tax in

accordance with the provisions

the Central Excise Officer, may require the person to produce such accounts, documents or other evidence as he may deem necessary and after taking into account all

Best Judgement Assessment

04/07/23 75

the relevant material which is available or gathered shall by an order in writing, after giving the person an opportunity of being heard, make the assessment of the value of taxable service to the best of his judgment and determine the sum payable by the assessee or refundable to assessee.

DOCUMENTS AND RECORDSDOCUMENTS AND RECORDS

Invoice / Bill / Challan / Consigment Note

Every person providing taxable service shall issue an invoice, bill or as the case may be a challan and they should contain the following particulars:

The name, address and registration of service provider The name and address of person receiving taxable service Description and value of taxable service provided or to be

provided The service tax payable thereon It must serially numbered It must be signed by authorized person

In cases where general practice is for receiver to raise bill, the provider has no option to skip it.

04/07/23 77

Time Limit for issue of Invoice / Bill / Challan

04/07/23 78

Except banking company or financial institution including non-banking company, invoice/bill/challan for taxable services must be issued within 30 days from the date of completion of such service or receipt of any payment towards the value of such service whichever is earlier.

For banking or other financial institution including non-banking company the aforesaid period of 30 days has been enhanced to 45 days.

In case of air ticketing the ticket itself shall be treated as invoice. It may not contain registration number, classification, address but shall contain other information as required.

Consignment Note

04/07/23 79

It is the additional document issued by Goods Transport Agency in addition to the invoice which is a mandatory requirement. It is issued against the receipt of goods for the purpose of transport of goods by road in a goods carriage. It must be serially numbered and must contain following information: The name of the consignor and consignee;

Registration number of the goods carriage.Detail of the goods transported;

Details of the place of origin and destination; and Person liable for paying service tax

But, goods transport agency is not required to issue consignment note in respect of services wholly exempted from service tax

Contents of the Consignment Note

04/07/23 80

The name of the consignor and consignee

Registration number of the goods carriage in which the goods

are transported

Details of goods transported

Details of the place of origin and destination

Person liable for paying service tax, whether consignor,

consignee or the goods transport agency

Documents to be issued by Input Service Distributor

04/07/23 81

Every input service distributor distributing credit of

taxable services shall, in respect of the credit

distributed, issue an invoice, a bill or as the case

may be a challan for each of the recipient of the

credit distributed.

Records The Act does not make any mention about maintenance of

records by person liable to pay service tax. However, under Rule 5(1), the records (including computerized data) as maintained under various laws in force from time to time shall be acceptable.

Under Rule 5(2), every assessee shall furnish to Superintendent of Central Excise, at the time of filing of return for the first time a list in duplicate of all the records prepared or maintained by the assessee.

Under Rule 5(3), the records maintained by the assessee should be preserved for at least 5 years immediately after the financial year to which such records pertain to.

04/07/23 82

CENVAT RECORDSCENVAT Rules reuire certain record to be maintained for claiming the credit.

For input and capital goods:

The provider of output service shall maintain proper records containing : 1) Receipt; 2) Disposal; 3) Consumption; 4) Inventory of Input and Capital Goods; 5) Value of input / capital goods; 6) Duty paid; 7) Cenvat Credit Taken; 8) Cenvat Credit Utilized; and 9) Particulars of Suppler of input or capital goods.

For input services: The provider of output service shall maintain proper records containing the following details;

1) Receipt of input services; 2) Consumption of input services; 3) Value of input services; 4) Tax Paid; 5) Cenvat Credit Taken; 6) Cenvat Credit Utilized; and 7) Particulars of provider of service

04/07/23 83

04/07/23 84

THANKS

Sushil AggarwalSushil Aggarwal

[email protected]

9560196060

service tax rules (sushil aggarwal)

Law

comparative

financial

preceding

anil sushil

maintain proper

goods transport

paying service

user id amp