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Q. > Please Help: service tax input credit on restaurent
PLZ INFORM ME THAT WHETHER AFTER ABATEMENT OF 40 % ON RESTAURENT BUSINESS SERVICE TAX PAID ON RENT IS ALLOWED AS INPUT CREDIT EXAMPLE :- SALE AMOUNT RS 500000 SO ABATED SERVICE TAX IS 24750 & RESTAURENT HAS RENT OF RS 2.00 LAC & WE HAVE PAID RS 24720 AS SERVICE TAX .SO PLEASE INFORM WHETHER IT IS ALLOWED TO TAKE INPUT CREDIT OF SERVICE TAX PAID ON RENT & IF YES PLZ INFORM THE NOTIFICATION AS WHERE WE HAVE CLAIMED ABATED VALUE NO INPUT CREDIT IS ALLOWED AS PER SERVICE TAX INPUT RULES
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sandeep mishra
19-Mar-2013 , 11:11:19 amw.e.f 1st July 2012. IF THE ABATEMENT OF 40% IS TAKEN ON RESTAURENT BUSINESS NO INPUT CREDIT IS ALLOWED ON ANY GOODS & SERVICE.