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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 May 2015 on receiving income
Bank a/c dr 100000
To construction of residential complex 100000

construction of residential complex dr 3090
To sevice tax payable 3090

For providing construction of residential complex service we take input service of work contract
on bill to work contractor
construction work a/c dr 23764
service tax input (cenvat) 1236
To party 25000

On date of payment of service tax

Service tax payable a/c dr 3090
To Service tax input(cenvat) 1236
To bank 1854

Whether above entry are correct?
what is the time limit of taking cenvat credit?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 May 2015 The above entries are correct. Time limit for taking cenvat credit is one year.

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