Can any tell me answer to the below question of W/off
can we claim VAT INPUT while passing/booking a write off of debtor balance?
and same with SERIVCE TAX?
Regards,
Ganeshan
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W/off doubt
Replies (2)
With respect to VAT, i don't think we can claim input...but for Sevice Tax we could have actually paid or collected the tax only on receipt. So i think there will be no impact of Service tax on debit bal of the party. But from this current fiscal the ST has to be paid in accrual basis.
with 1st question's answer i agree
but in 2nd question's answer we book w/off entry only when we are no receiving the sum of amt from debtors then in such case we can claim service tax as input?
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