Reverse tax

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siva prasad

siva prasad (Querist)
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09 March 2014 pls guide for entry of rev st payment and can cenvat credit be availed.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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10 March 2014 1. Expense recording

Expense A/c Dr
To Creditor

2. Service tax liability recording

CENVAT Credit (Input Service) Deferred Dr
To Service Tax Payable

3. Payment
Service Tax Payable A/c Dr
To Bank

4. Avail CENVAT Credit
CENVAT Credit (Input Service) A/c Dr
To CENVAT Credit (Input Service) Deferred