Dear Friends,
For one our client, there is un utilised input service tax credit. As credit cannot be utilised after 6 months, it is to be reversed now. Kindly explain the accounting treatment for the same.
Regards,
Swathi
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Service tax reversal
Replies (2)
it should be expensed now.....under the head for which service is taken
the service tax input amount should be reversed to the respective expense though which it was taken.
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