credit
This query is : Resolved
14 May 2009
What do you mean by credit of service tax. My understading is as below:
1. Incuring expenditure.
Exp Dr 100
ST Dr 10
to Bank 110
2. When I provide for services then
Debtors Dr 110
To Sales/Income 100
To ST Payable 10
Now I have to just pay Rs.10 to the govt.
Can I offset the Rs.10 payable on sales/income against the Rs.10 paid on expenses, in which case i need not pay anything to govt.?
1. Incuring expenditure.
Exp Dr 100
ST Dr 10
to Bank 110
2. When I provide for services then
Debtors Dr 110
To Sales/Income 100
To ST Payable 10
Now I have to just pay Rs.10 to the govt.
Can I offset the Rs.10 payable on sales/income against the Rs.10 paid on expenses, in which case i need not pay anything to govt.?
14 May 2009
Definatly you need not to pay anything to Govt as your net due is nil after stting off Credit of ST.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Opting our of sec 44AD
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Multiple trade mark
- FORM 26A APPLICABILITY
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- SALE OF MOTOR CAR BY REGISTERED INDIVIDUAL
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
