Input service tax credit
This query is : Resolved
Mukesh Suthar
(Querist)
13 April 2012
There are Rs. 85000/- of Service tax
Payable and input service tax of Rs. 8000/- in F.Y 2010-2011.
Service tax payable Rs. 85000/- shown in the balance sheet but neither input service tax credit of Rs. 8000/- set off against service tax payable nor shown in balance sheet.
Now service tax payment made of Rs. 77000/- after set off input service tax of Rs. 8000/- in 2011-2012. Hence Balance Shown in Service tax Payable A/c is Rs. 8000/- in F.Y 2011-2012.
How to treat input service tax of Rs. 8000/- in F.Y. 2011-2012
Please Reply soon....
Payable and input service tax of Rs. 8000/- in F.Y 2010-2011.
Service tax payable Rs. 85000/- shown in the balance sheet but neither input service tax credit of Rs. 8000/- set off against service tax payable nor shown in balance sheet.
Now service tax payment made of Rs. 77000/- after set off input service tax of Rs. 8000/- in 2011-2012. Hence Balance Shown in Service tax Payable A/c is Rs. 8000/- in F.Y 2011-2012.
How to treat input service tax of Rs. 8000/- in F.Y. 2011-2012
Please Reply soon....
BHARATH KOTHARI
(Expert)
15 April 2012
You Have Might have missed entry in last year please go back if possible pass the
Service TAx Payable a/c Dr.
To Input Credit on service Tax
then it will show the proper balance in balance sheet also
Service TAx Payable a/c Dr.
To Input Credit on service Tax
then it will show the proper balance in balance sheet also
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