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.
Gorav Kumar Goyal
(Expert)
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
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Tax on Amount transferred in HUF Account
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
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
