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(Guest)

Service Tax, Credit

 Dear Friends,

Company ABC is registered with the Department wef 1st June, 2008. It has filed its ST3 for (Apri 08 to Sep 08) in time as NIL Return. 

ST3 for the period Oct 08 to March 09 is still pending to b filed.

The Company is registered for Beauty Parlour and Health Fitness Services. Till date no Services provided by hte Company. The Company expects to provide services from August 2009. It deals with Gym, Aerobic, SPA etc. 

For the same the Company has imported Machineries and Custom Duty of Rs. 7 Lacs has been paid thereon. Apart from that Company has paid Rs. 1 Lac as Service Tax on various services availed during the year 2008-2009.

My question is should I mention in my ST3 for Oct-March 2009, the details of this ST/Custom duty paid by me. Will I b able to claim credit of the same in future ( in ST3 for 2009-2010)???

Now as i m late for ST3, what shall b penalty for late filing of ST-3? I would file ST3 on 8th May 2009.

 

 



Learning

 5 Replies

A V Vishal (Advocate)     02 May 2009

Dear Nirav

Cenvat credit can be claimed wrt the service tax paid of Rs.1.00 lakh for the period from Oct to March. Regarding the delay in filing the return you can be levied a penalty of Rs 500/- per day of delay, so try to file the return at the earliest.

tarun goyal (Govt. service)     04 May 2009

under section 77, penalty for non-filing of return is only Rs. 1000/-, penalty for non-payment of service tax under section 76 of the finance act,1994 is Rs. 200/- per day only and upto equal to servicetax evaded.

CA.AMIT SHARMA (SERVICE)     07 May 2009

Dear Nirvah

You must show the cenvat credit of Rs 1 lacs in ST3 and carried forward the same to the next f.y. for utilisation. As regard penalty for late filing of return i am well agree with Mr A V Vishal.

tarun goyal (Govt. service)     07 May 2009

dear amit ji and vishalji,

 

i am quite impressed with your replies. but can you please give me the correct section of law where penalty for non filing of return is Rs. 500/- per day so that i am not confused with the inteerpretation of law. thanx.

suren (service)     12 May 2009

 the Company has imported Machineries and Custom Duty of Rs. 7 Lacs has been paid thereon. Apart from that Company has paid Rs. 1 Lac as Service Tax on various services availed during the year 2008-2009.

You can get the credit of Rs 1 lac paid as Service Tax as well you can take crdit of CVD which may be paid while paying Custom Duty of Rs. 7 lacs.You can ascertain the exact  amount from the Bill of Entry.

You have to inform to the Department about the Balance Cenvat Credit with you


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