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Input credit on service tax

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20 December 2007 Whether service tax paid on bills will be allowed as expenditure. For example Telephone bill say Rs.1000/-
Service tax on the same Rs.124/- totalling Rs.1124/-Whether Rs.1124 to be debited to telephone a/c or only Rs.1000/-

20 December 2007 Kindly assisst me on this issue. If Service tax paid on bills is treated as expenses and then give guidelines on how to account for input credit on service tax

20 December 2007 Rs. 1000/- will be debited to Telephone a/c and Rs. 124/- to be account as input credit on service tax.






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