Dear All,
In my compnay, excise & service tax inputs on purchases during the year 2010-11 were not utilised and total amount charged to P&L Account. My quetion is Can I utlised the excise & service tax inputs received on 2010-11 during current year i.e. 2011-12? If yes, which procedures I have to follow and which type of entry I have to pass in my accounts book?
if you have taken input credit in 2010-11 and in returns you have shown the same, then you can utilize the same in current year, otherwise not.
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