Urgent
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?
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?
12 May 2015
The above entries are correct. Time limit for taking cenvat credit is one year.
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