Ad-Free CAclubindia and daily updates on your mobile. Subscribe Now!

Service tax input quary

Neeraj Joshi (Accounts executive) (97 Points)

07 October 2016

I have booked Audit Fees payable of on 31st March 2016 for the F.Y. 2015-16 & I have deposited TDS on it but didn't take service tax input credit . now I have received Bill form my Auditor for audit fees + Service Tax. can i take Service Tax Input Credit now ? & if Yes then what entry I will pass in my books.

Reply
Follow
Share

3 Replies

CA Goutam Sharma (Chartered Accountant in Practice) (468 Points)
Replied 07 October 2016

yes..you can take credit of service tax..

entry shall be as follow

outstanding audit fee dr
Input St Credit dr
To Bank

Mukesh Kumar (Accounts Manager) (1466 Points)
Replied 08 October 2016

PLZ TELL BILL DATE OR PAYMENT DATE

CA Goutam Sharma (Chartered Accountant in Practice) (468 Points)
Replied 08 October 2016

please note..

you have already booked the liability of audit fees as follow
audit fees dr
To Auditor

now you received the invoice and want to take credit and book the amount as follow on date of invoice

s tax input credit dr
To Auditor

when you pay the fees
Auditor dr
To Bank