Sec. 43 B of IT Act
This query is : Resolved
21 June 2008
iam maintaining books on mercantile basic and raising bill with service tax but iam paying service tax on receipts basic than the service tax liability credit balance outstanding as on 31.3.2008 should i see the payment of service tax for compliance of sec. 43B of Itax act. for computing tax.
21 June 2008
yes,u need to apply 43B in case of service tax debited in p& l a/c.
DHANANJAY R
(Expert)
21 June 2008
in addition to Jitender's answer i think if you have a CENVAT input credit as on 31st March 2008 then you can set it off your liability and it is as good as the payment of service tax liabilty.
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