Regarding excess outstanding liability in last f y

niranjan (student) (73 Points)

01 April 2015  
we provided outstanding liability for a particular exp say Repair and Maintenance Rs 5 Lac for f y ending on 31.03.14 based on estimation.In f y 14-15 total exp against the liability came to rs 4.5 Lac only. how to treat this excess liability of .50 lac in f y 14-15.how to reverse it. will it be a prior period item.