04 April 2011
In our company, there is booking of expenses which includes service tax but payment not made till 31st March. Can we take credit of the service tax so booked (but not yet paid), against our service tax liability upto March.
04 April 2011
Dear upto 31/03/2011 The Credit of Service Tax can be claimed only on Payment basis, but note that from the next year Service Tax shall be charged on Accrual Basis then you will be eligible for claiming Service Tax credit on unpaid Expenses also
CAclubindia
