Higher and secondary education cess
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
14 April 2016
Dear Expert,
Please do let me know about utilisation of Education cess credit which is there in accounts till 31.05.2015 and then 14% rate was applicable so now how to utilise and if not able to utilise than what would be the accounting treatment?
Thanks in advance.
Please do let me know about utilisation of Education cess credit which is there in accounts till 31.05.2015 and then 14% rate was applicable so now how to utilise and if not able to utilise than what would be the accounting treatment?
Thanks in advance.
15 April 2016
The balance in E. Cess & SHE Cess should be transferred to Service Tax by reflecting the same in Part - I of the ST - 3 Return. In E. Cess & SHE Cess fill up item 3.2.3.4.& 3.3.3.4 as transferred to Service Tax and in Service Tax fill up item 3.1.2.6. as Transferred from EC & SHEC.
In the books of account transfer the entries by means of a normal journal entry.
In the books of account transfer the entries by means of a normal journal entry.
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