Define the 'Input Tax' in respect of Service Tax Act. What
type of Input tax can be taken for the credit of tax payble?

Answers were Sorted based on User's Feedback

Define the 'Input Tax' in respect of Service Tax Act. What type of Input tax can be take..

Answer / arjun_gatsby

Input Tax is that tax which a service provider; who is also
giving output services, have paid on services he has taken
for the pupose of providing the output services to his
clients. It includes the duty paid on goods and capital
goods which are used for the purpose of giving direct
services to the clients of the said service provider,
except a Transporter and Non Resident.

Is This Answer Correct ?    26 Yes 3 No

Define the 'Input Tax' in respect of Service Tax Act. What type of Input tax can be take..

Answer /

Input VAT is the value added tax added to the price when you purchase goods or services liable to VAT. If the buyer is registered in the VAT Register, the buyer can deduct the amount of VAT paid from his/her settlement with the tax authorities.

Is This Answer Correct ?    1 Yes 0 No

Post New Answer

More Taxation Interview Questions

is it necessary to use form38 in UP for purchase of goods from outside UP @5%CST Tax

0 Answers  

IF any payment made to resident but not ordinary resident in dollar, as provided technical & professional services in india which is taxable in india or PE-India is applicable for taxability in india

1 Answers  

if we are going to get the refund afterwards so why we should pay in advance the excise duty? if the excise duty paid in advance then what are the benifits for the company?

1 Answers  

What is Tax Refunds ?

2 Answers  

what is deemed assessee?

6 Answers  

what is exemption of income tax in case of huf and a firm

1 Answers  

Can we deduct WCT TDS on Interstate WORKS CONTRACT , Example, Contractor is in Banglore, he has completed work in Mahrashtra which involved Civil work, Furnitures, fixtures & labour etc, Contractor has raised invoice on service receiver adding 13.50% full CST +4.12% Service charges on Total invoice amount, kindly clarify whether Service receiver is eligible to deduct WCT TDS in Maharashtra on invoice value of the contractor, if yes at what rate ?

2 Answers   Quest,

what is central excise tax

0 Answers   Reliance,

if i am running a tank lorry and the income of the tank lorry comes under haryana VAT 2003?

0 Answers  

what is e-1 sales

1 Answers   ABC,

what is Direct and Indirect Tax? can any body tell me with example.

8 Answers  

Please help me to find VAT Rates of the follwing Items in A.P 1.Fiber Glass -CSM -Roving W.R Polyster Resin G.P{general purpose)Roofing,ISO Thanks & Regards Mohan .V

0 Answers