Service tax input credit
This query is : Resolved
Mrityunjay
(Querist)
08 February 2011
Dear All,
Am working for event management co,
There are two vendors X & Y their outstanding 30 & 27 thousand respectively
by mistake i have taken Y bill in to x a/c( Ie,y bill entered in the name of X) and i adjusted the input credit ST for the respected month,as per my knowledge until we pay full amount we cant take input credit st.
so kindly guide me how to rectify this error
Regards
Mrityunjay
Am working for event management co,
There are two vendors X & Y their outstanding 30 & 27 thousand respectively
by mistake i have taken Y bill in to x a/c( Ie,y bill entered in the name of X) and i adjusted the input credit ST for the respected month,as per my knowledge until we pay full amount we cant take input credit st.
so kindly guide me how to rectify this error
Regards
Mrityunjay
VIPIN KUTUMBALE
(Expert)
09 February 2011
UTILISATION & AVAILMENT OF WRONG CREDIT ATTRACT PENATY, REVESER THE ENTRY AND PAY THE INTEREST FROM THE DATE OF MAKING ENTRY TO REVERSAL ENTRY DATE. AND PAY THE SERVICE TAX,
UTILISATION & AVAILMENT OF WRONG CREDIT ATTRACT PENATY, REVESER THE ENTRY AND PAY THE INTEREST FROM THE DATE OF MAKING ENTRY TO REVERSAL ENTRY DATE. AND PAY THE SERVICE TAX,
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