banner_ad

Credit for old service tax amount

Queries 562 views 1 replies

I wan to know whether i am eligible to take service tax credit for previous years relating to 2008-09,2009-10,2010-11 & 2011-12 now if i have not taken the same. The same amounts are also standing in my accounts as service tax credit. I have paid for all the service tax bills in the respective year only.

Replies (1)

The Service tax paid on any expenditure is debited to a separate account under th ehead Current Assets in the B/S.  This account is debited as & when ST on expenditure is being paid.  The balance remaining at the year end is c/f tot eh subsequent year & accordingly credit for SERvice Tax is taken in the subsequent eyars.  So the balance to this account is accumulated balance for the ST paid during the previous eyars.  So it doesn't matter if teh ST is relating to the years mentioned by you. You cna take teh credit of the same. 


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details