06 July 2012
Hi, My query is that can balance of input service tax as on 1st April be utilised for output service tax liability of the current financial year.
EG: 01/04/2012 Op Bal Input Service Tax 5.00 Lacs Output liability for Apr-2012 7.00 Lacs Balance payable in cash 2.00 Lacs
06 July 2012
Yes, we can utilize service tax input (Opening balance) upto the amount showing in our Service tax return of 31st March 2012 and carry forward the same for next financial year......
CAclubindia
