Query for prior period exps
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 May 2017
whether service tax paid by company under RCM be treated as prior period expense????
13 May 2017
hello,
Answer of this lies in your query itself,
Service tax paid whether under normal circumstances or under reverse charge method is never treated as an expense because we can avail credit of same in future and if any item cannot be treated as an expense how can it be classified as prior period expense.
Answer of this lies in your query itself,
Service tax paid whether under normal circumstances or under reverse charge method is never treated as an expense because we can avail credit of same in future and if any item cannot be treated as an expense how can it be classified as prior period expense.
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