Service tax as a expense of company
This query is : Resolved
06 October 2015
SIR,
IN CASE OF A COMPANY IS PAYING SERVICE TAX AND NOT RECOVERING FROM ITS COSTUMER IN THIS CASE SERVICE TAX CAN BE TREATED AS A EXPENSE OR NOT.IF YES CAN WE TAKE THIS EXPENSE IN P&L.
IN CASE OF A COMPANY IS PAYING SERVICE TAX AND NOT RECOVERING FROM ITS COSTUMER IN THIS CASE SERVICE TAX CAN BE TREATED AS A EXPENSE OR NOT.IF YES CAN WE TAKE THIS EXPENSE IN P&L.
06 October 2015
YES IT CAN BE TREATED AS AN EXPENSE.
Message likes :
1 times
06 October 2015
It can be treated as expense and taken to P&L.
Message likes :
1 times
07 October 2015
In your case Since your company is not getting service tax portion charged on invoices from their customers ... i.e. paying from their pocket ... therefore service tax definitely would be treated as EXPENSE. and same will also be allowed as Expenses under section 37(1) under income tax too..
Thank You..
In your case Since your company is not getting service tax portion charged on invoices from their customers ... i.e. paying from their pocket ... therefore service tax definitely would be treated as EXPENSE. and same will also be allowed as Expenses under section 37(1) under income tax too..
Thank You..
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Itr 1 processing
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- ITR validation error - Balance sheet is not filled
- ITR 1: Details for showing Exempt Income
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR returnFY25-26
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Query regarding TDS on EPFO Higher Pension Arrears*
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
