Input credit on service tax
This query is : Resolved
S. Madhanraj
(Querist)
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/-
Service tax on the same Rs.124/- totalling Rs.1124/-Whether Rs.1124 to be debited to telephone a/c or only Rs.1000/-
S. Madhanraj
(Querist)
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
Debasish Mohanty
(Expert)
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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