Service tax calculation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 February 2015
Dear Sir,
If in December Month, If our company purchase Service with service tax 12.36% is more than Sales Service with service tax 12.36%. Ultimately Which is we paid extra service tax.
& next Month i.e. in Jan month We sell service with Service Tax more than purchase Then we can do calculate Service tax computation of combine 2 months.
If in December Month, If our company purchase Service with service tax 12.36% is more than Sales Service with service tax 12.36%. Ultimately Which is we paid extra service tax.
& next Month i.e. in Jan month We sell service with Service Tax more than purchase Then we can do calculate Service tax computation of combine 2 months.
21 February 2015
Hi, in effect what you are saying is correct. However, the correct methodology is as follow;
December 2013-
Computation of liability = Output liability (Say Rs. 100) - Cenvat Credit for the month (Rs. 150). So you carry forward Cenvat balance of Rs. 50.
January 2014 -
Computation of liability = Output liability (Say Rs. 100) - Cenvat Credit (opening bal Rs. 50 + Cenvat for the month 25)= Output liability of Rs. 25 to be paid on or before 6th February.
December 2013-
Computation of liability = Output liability (Say Rs. 100) - Cenvat Credit for the month (Rs. 150). So you carry forward Cenvat balance of Rs. 50.
January 2014 -
Computation of liability = Output liability (Say Rs. 100) - Cenvat Credit (opening bal Rs. 50 + Cenvat for the month 25)= Output liability of Rs. 25 to be paid on or before 6th February.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2015
Thanks for valuble & useful answer Mr. Rajesh Sharma
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