Assessing Officer has disallowed the service tax input credit of F.Y-13-14. Whether we have to show it as prior period items while preparing tax audit report for F.Y-15-16?
Assessing Officer has disallowed the service tax input credit of F.Y-13-14. Whether we have to show it as prior period items while preparing tax audit report for F.Y-15-16?
dear kavit ,
it is only to be show as prior period item if u have beleive at the time of balance sheet date of said fy that u are taking wrong credit or u had something to be doubt on that year if u take credit it may be disallowed.
otherwise it should not be treated as prior period item
thnks.
Dear Harshit
At the time credit availment we were sure that input credit can be avail and that is why we have taken the same.
Regards,
Kavit Dave
Then it should be treated as current year expense , as u availed the benefit in that earlier.
thnks
Dear Harshit
Any case law is there related to such an instance?
Regards,
Kavit Dave
search about this whichevr i know written here -
Present Shri Vishal Kumar, Advocate for the appellants
Present Shri Sanjay Jain, A.R. for the respondent
Coram: Honble Mr. Justice G.Raghuram, President
Final Order No. 58384/2013
Per Justice G. Raghuram:
above is not the case law , but includes various reasons why the credit was disallowed by the department.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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