Availment of cenvat credit- service tax

Save Share

This query is : Resolved

CA Karishma Chawla (Querist)
Follow

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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

28 June 2015 You have to debit the debtors only from whom you have to receive service charges along with service tax.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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).

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now