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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Issuing of delivery challan by seller of goods
- MSME disclosure and disallowance
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
