25 October 2016
Dear Sir, Service Tax paymend on reverse charges basis is avail credit on Input CENVAT Service tax in ER-1 towards payment of service tax on reverse charge mechanism.
also i need help for in the last year i have a cenvat credit of service tax amount of rs. 69,01,120/- now in the current year i have to pay service tax on reverse charge basis amount of rs. 12,50,200/- shall i pay amount of Rs. 12,50,200/- or shall i have to adjust in the balance of last year cenvat credit of service tax? it is possibal to adjust current year payable amount to adjust against last year balance? Thanking you