HOW TO SET OFF CENVAT WITH SERVICE TAX
MY CENVAT BALANCE 50000
SERVICE TAX LIAB 19773
ADD (2+1) ON ST 593
I CAN ADJUST CENVAT TOWARD 19773 OR 19773+593
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Cenvat with service tax
Replies (2)
From the query posted, it appears that the unit wants to discharge the service tax liability through debits from the cenvat account. In such a case, credit of service tax can be utilised for payment of service tax on the output service and similarly the credit of EC ( 2% ) if any available with you then the same can be utilised towards the education cess of the output service and similar is the case with secondary and higher education cess.
| Originally posted by : C.V.R.SARMA | ||
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From the query posted, it appears that the unit wants to discharge the service tax liability through debits from the cenvat account. In such a case, credit of service tax can be utilised for payment of service tax on the output service and similarly the credit of EC ( 2% ) if any available with you then the same can be utilised towards the education cess of the output service and similar is the case with secondary and higher education cess. |
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