07 July 2011
we are the manufacturer and ssi unit. we have crossed 1.5 crore limit in end of dec2011.we are paying service tax on telephones,internet,advt charges etc.we not availed credit last year,from this current year we started to pay ist invoice on wards .we are intened to take for the bills from jan 2011 on wards. since the bills are last financial year i would like to know how to pass the entries of previous year bills service tax . kindly advice Thanks V.Ravi
08 July 2011
The rules does not prevent you from availing the service tax credit credit for the last financial year bills. Make the entries in the current month Annexure 10 statement and avail the credit, provided that you should have paid the service tax on those bills.
08 July 2011
Hi, During the current month, you can credit the concerened Expenditure head (i,.e. Advertisement,Telephone, Internet etc) and Debit to Cenvat/Servie Tax Receivable A/C.
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