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
- CLOSING STOCK QUERY
- Loss of interest in PF transfer from EPFO to Trust
- Technical Glitch in ITR-4 Online Form (AY 2026-27): Sec 44AE Partner Remuneration not mapping to E8
- TDS on rent received on hardship compensation being rent on redevelopment of building
- F&O reporting in ITR
- CASH GIFT FROM BLOOD RELATIVE
- TDS offline utility
- Due Date Clarity
- Query regarding TDS on EPFO Higher Pension Arrears- under wrong section
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
- Account freezed for Ineligible ITC Scrutiny for GST Annual Return
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
