Accounting entry

This query is : Resolved

DEEPAK GOYAL (Querist)
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17 August 2011 we have issued service tax invoices in F.Y. 2010-2011 of 6 lacs to our customer and filled our service tax return also. Now the customer intimate us that they have deducted Rs. 2 Lacs under those invoices. Now whether we can enter the debit notes on 31.03.2011 or in Current Financial Year. We can not file the Service Tax Return because Date of Service Tax Revised Return is 90 days. Please advise

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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17 August 2011 My view, the same debit note can be accounted and take the debit of service tax and adjust with the further service tax payments

DEEPAK GOYAL

DEEPAK GOYAL (Querist)
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18 August 2011 But in which year we have to account for the debit notes? in F.Y. 2010-2011 or 2011-2012. Service Tax Return already filled and also time limit for revised return (90 days) expired.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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21 August 2011 Debit note can be accounted and service tax adjusted in current return

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