Service tax cenvat debit entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 April 2013
Hello Dear Experts
I am working in a service industry.I have a query regarding Service Tax Cenvat Input Credit. Recently Service Tax Department Issued a circular regarding Cenvat Credit Debit Entry. My Query is that we claimed Service Tax refund For the period of Jan'12 to March'12, the officials told me that I should give them a declaration on Letter head that I have debited Service Tax Cenvat Entry in our books so that the Input credit amount will be reduced,if so what will be the Entry in case, I am confused.
I am working in a service industry.I have a query regarding Service Tax Cenvat Input Credit. Recently Service Tax Department Issued a circular regarding Cenvat Credit Debit Entry. My Query is that we claimed Service Tax refund For the period of Jan'12 to March'12, the officials told me that I should give them a declaration on Letter head that I have debited Service Tax Cenvat Entry in our books so that the Input credit amount will be reduced,if so what will be the Entry in case, I am confused.
18 April 2013
Your query is not much clear, do provide proper facts.
Service tax refund will be Net of Canvat credit and debit entry of service tax payable.
In case you have have refund go for that.
in case you have payable then pay it.
Entry for adjustment of payble to cenvat will be:-
Service tAx Payble Dr.
ed. cess
SHEC
To Cenvat Input
Cenvat Entry will be:--
Cenvat Input Dr.
Ed. cess
Shec
To party
I hope it will clear your query.
CA. Gorav Kumar Goyal
9910357301
Service tax refund will be Net of Canvat credit and debit entry of service tax payable.
In case you have have refund go for that.
in case you have payable then pay it.
Entry for adjustment of payble to cenvat will be:-
Service tAx Payble Dr.
ed. cess
SHEC
To Cenvat Input
Cenvat Entry will be:--
Cenvat Input Dr.
Ed. cess
Shec
To party
I hope it will clear your query.
CA. Gorav Kumar Goyal
9910357301
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