Assessing Officer has disallowed the service tax input credit of F.Y-13-14. Whether we have to show it as prior period items while preparing tax audit report for F.Y-15-16?
Harshit Kabra (INVESTOR)
(Student CA final)
(1113 Points)
Replied 29 June 2016
dear kavit ,
it is only to be show as prior period item if u have beleive at the time of balance sheet date of said fy that u are taking wrong credit or u had something to be doubt on that year if u take credit it may be disallowed.
otherwise it should not be treated as prior period item
thnks.
Kavit
(Fresher)
(26 Points)
Replied 29 June 2016
Dear Harshit
At the time credit availment we were sure that input credit can be avail and that is why we have taken the same.
Regards,
Kavit Dave
Harshit Kabra (INVESTOR)
(Student CA final)
(1113 Points)
Replied 29 June 2016
Then it should be treated as current year expense , as u availed the benefit in that earlier.
thnks
Kavit
(Fresher)
(26 Points)
Replied 29 June 2016
Dear Harshit
Any case law is there related to such an instance?
Regards,
Kavit Dave
Harshit Kabra (INVESTOR)
(Student CA final)
(1113 Points)
Replied 29 June 2016
search about this whichevr i know written here -
Present Shri Vishal Kumar, Advocate for the appellants
Present Shri Sanjay Jain, A.R. for the respondent
Coram: Honble Mr. Justice G.Raghuram, President
Final Order No. 58384/2013
Per Justice G. Raghuram:
above is not the case law , but includes various reasons why the credit was disallowed by the department.
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