Cenvat credit
This query is : Open
06 February 2014
May I take cenvat credit against proforma invoice for which I had paid full amount as 100% advance including service tax.
06 February 2014
Cenvat credit will not be available on proforma invoice.
Message likes :
1 times
07 February 2014
It means CENVAT credit is available only and only on tax invoice. Am I correct???
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Please ans one more qstn. Is this entry correct.... ( A most famous school gives a add in news paper & channels)
1) On the time of 100% advance on proforma invoice (which includes Service Tax amount also)
Adv. Agency a/c Dr.
To 2% TDS (u/s 194 C)
To Bank
-----------------------------------
2) Journal entry when Tax Invoice will receive
Adv. Exp. a/c Dr.
Service Tax a/c Dr.
To Adv. Agency
------------------------------------
-----------------------------------
Please ans one more qstn. Is this entry correct.... ( A most famous school gives a add in news paper & channels)
1) On the time of 100% advance on proforma invoice (which includes Service Tax amount also)
Adv. Agency a/c Dr.
To 2% TDS (u/s 194 C)
To Bank
-----------------------------------
2) Journal entry when Tax Invoice will receive
Adv. Exp. a/c Dr.
Service Tax a/c Dr.
To Adv. Agency
------------------------------------
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