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Accountig for cenvat credit

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Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2014 Can following accounting treatment be followed?

1. For booking expenditure:

Expenditure A/c Dr xxx
(including service tax)
To Party A/c xxx

2. For taking Input Credit

Service Tax Input Credit A/c Dr xxx
To Expenditure W/Off A/c xxx

Annu Agarwal

Annu Agarwal (Expert)
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02 May 2014 As per my view it is a correct entry.

Querist : Anonymous

Querist : Anonymous (Querist)

02 May 2014 Thank You Annu.

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