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Classification as current or non current assets

This query is : Resolved 

If the input credit of service tax not utilized within one year then it will be classified as current asset or Non current asset?


The classification is not done on basis of past. It is based on future realisation. If it is recoverable within a year, current, else non-current.

Then how to classify and item as current or non current if it relates to the current accounting period

IMO, Current asset.
Because, every month new credit adds and old credit gets set off against the output tax liability.


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