Dear Friends,
For one our client, there is un utilised input service tax credit. As credit cannot be utilised after 6 months, it is to be reversed now. Kindly explain the accounting treatment for the same.
Regards,
Swathi
Swathi hebbar (CA Final) (257 Points)
11 September 2014Dear Friends,
For one our client, there is un utilised input service tax credit. As credit cannot be utilised after 6 months, it is to be reversed now. Kindly explain the accounting treatment for the same.
Regards,
Swathi
Sourabh Katiyar
(-)
(97 Points)
Replied 12 September 2014
the service tax input amount should be reversed to the respective expense though which it was taken.
CAclubindia
