Availment of cenvat credit- service tax
This query is : Resolved
27 June 2015
Suppose in an expenditure, i am gonna pay the service tax after suppose 2 months, so obviously i am gonna claim the Cenvat of the same at the time of payment. But i book the invoice at the date of getting it, suppose in month of March. So, i also create liability for Service tax payable -which will be credited being a provision. But what should be debited with that? Coz obviously Cenvat Credit A/c cannot be debited since we cannot claim it in March. What will be debited is important because of the year end in between.
28 June 2015
You have to debit the debtors only from whom you have to receive service charges along with service tax.
29 June 2015
Import service Dr 100
Service Tax input Dr 14
To Service provider 100
" Service tax Payable 14
(Being import of service and ST
thereon under RCM booked).
Service Tax input Dr 14
To Service provider 100
" Service tax Payable 14
(Being import of service and ST
thereon under RCM booked).
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