Disallowance of service tax credit by a.o

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?

Replies (5)

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.

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