Input credit
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2011
My client is a pvt ltd company.In financial year 10-11 it received service and has taken input credit.At that year 10-11 it has no output service.The same input credit carried to 11-12.Again the company is not expecting any output service in 11-12.
1) Can we charge the input credit to P/L in 11-12.
2) Will it not amount to prior year expenditure in 11-12 which will be disallowed as per income tax act.
1) Can we charge the input credit to P/L in 11-12.
2) Will it not amount to prior year expenditure in 11-12 which will be disallowed as per income tax act.
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