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Input Credit Adjustment

Queries 812 views 3 replies

Dear All

Please solve my problem in service tax input credit adjustment

I have service tax liabilty for June Rs.2000, July 5000 ,Aug 3000 ,& Sep 9000

I Have Input Credit on July 1000, Aug  4000 & Sep 2000

How I can set off the liabilty with input credit

please give detailed answer

 

Replies (3)

Month....... ST Liability.......... ST Input......... Net Payable

June..........2000.....................NIL......................2000 

July ...........5000.....................1000...................4000

Aug............3000...................4000....................(1000)

Sept ..........9000...................2000...................6000 (1000 of previous month taken in account)

Total Payout ...................................................12000

Yes ,U S sharmais right ....but services payable on Gta should be paid in cash by manufacturer.

plz tell me can we use service tax credit of 10% for payment of Excise Edu cess & S & H Edu Cess


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