Pl clarify my doubt.Do we have to pay net service tax to governnment i.e after deducting service tax receivable from service tax payable.
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service tax
Replies (2)
Yes you are absolutely right.
First compute the output tax liability
then adjust the input tax credit against output tax payable and pay the balance output tax payable if any
For Ex.
Out put tax payable is Rs 100
Input tax credit available is Rs 50
Balance payable (Net tax payble after adjustment of input tax ) Rs 50
Hope the above clarifies
| Originally posted by : M.D.Ram | ||
 |
Yes you are absolutely right. First compute the output tax liability then adjust the input tax credit against output tax payable and pay the balance output tax payable if any For Ex. Out put tax payable is Rs 100 Input tax credit available is Rs 50 Balance payable (Net tax payble after adjustment of input tax ) Rs 50 Hope the above clarifies |
 |
Yes , he is right
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