Answer Posted / h.r. sreepada bhagi
Service tax is also a levy similar to the Excise (CENVAT) by
the Central Government. Like in CENVAT, Credit entitlement
is available for Service Tax on the Services received. This
credit can be set off against the output service tax and
also against Excise Duty payable as per the provisions of
the relevant Acts.
Here the main difference is CENVAT is applicable on products
and Service Tax is applicable on Services.
For more information refer latest edition of Service tax Act
and Central Excise Act. (CENVAT)
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
Central purchase is eligible for issuance of H form. Whetther H form can be issued against local purcahse also? What I came to know is : earlier H form can be issued against central purchase only, but after intoduction of VAT, department issued notification regarding issuance of H form against LOCAL PURCHASE also. Is it true? If true then please tell me about notification/ circular/ relevant section or law. Please look into the matter. Thanx n Regards
I have doubt on Input VAT & Output VAT (incoming vat / outgoing vat) I have a HMS software, where we have interface to tally erp. When we import the transactions to Tally from HMS (Hospital Management System) All the purchases what we do for a period, the tax paid on these purchase are showing as out going vat. Similarly when we do the sales of those purchased items through HMS, tax collected from customer is showing as incoming vat. Is these are correct terms what they had mentioned in HMS? Please help me out.
meaning of accessory for central excise purpose
what is rules of taxation
what is capital account? how to manage it? what is the process?
I AM SAKTHIVEL,MY QUESTION IS 1.WHAT ARE THE LEDGER TO BE MAINTAINED FOR SERVICE TAX 2.KINDLY EXPLAIN WITH EXAMPLE FOR PURCHASE ALONG WITH SERVICE TAX 3.SALES ALONG WITH SERVICE TAX 4.IN TALLY E.R.P HOW I GROUP THE LEDGER 5.GIVE NECESSARY JOURNAL ENTRY FOR ALL SERVICE TAX RELATED TRANSACTION 6.ANY OTHER IMPORTANT NOTE U WISH TO INFORM ME 7.HOW I CROSS CHECK IT ### PLEASE HELP ME REGARDS SAKTHIVEL
Is sales against H Form Either in Punjab or out of Punjab treated as Zero rated sales in vat 15 form in Window showing as Break up of Zero rated sales: Direct export out of country; Sales against H Forms Or it is treated as seprate
What r the foll tax deductions for :- 1.TDS 2.WCT Give me answers in detail & give me some addtional info on these topics which would be helpful for me.
How to reconcilation of modvat
if a item sale on cash bill which is under vat sechdule c local sale tax is 5% so what is the rate of CST without C Form
If A manpower supplier bills to a acompany for rs.100000 for pure labour supply what entry will be done in terms of reverse charges.
WHAT IS FORM AND OTHER REQUIRMENT FOR FILE EXCISE RETRUN AND HOW WE FILE EXCISE RETURN ?
how i get h form
what is form 8? what are all the details to be collected while buying c form
how to filing rt-1
