Swatch bharat cess
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 January 2016
IF
SBC OUTPUT -0.5% -2000
(-)SBC INPUT - 0.5% -1000 (CENVAT)
BALANCE PAYABLE - 1000
IS IT CORRECT ENETRY? LET ME KNOW.
SBC OUTPUT -0.5% -2000
(-)SBC INPUT - 0.5% -1000 (CENVAT)
BALANCE PAYABLE - 1000
IS IT CORRECT ENETRY? LET ME KNOW.
Suresh Ramaswamy
(Expert)
24 January 2016
Swatch Bharat Cess is an additional levy @0.5 % on Services Rendered and / or Received. The same is payable only in Cash i.e through GAR - 7 Challan [e-payment through bank]. Further SBC is not CENVATable and hence no Input credit can be taken. In your illustration you are liable to pay the entire Rs.2,000/- and the SBC of Rs.1,000/- you have paid on services received for rendering output services should be charged directly as expenses to P & L Account.
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
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Issuing of delivery challan by seller of goods
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- 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?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
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
