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Service tax :current liability or an expense?

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(Querist)
19 June 2016 Whether Service tax is an expense or current liability which comes in balance sheet?
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CA Amrita Chattopadhyay

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CA Amrita Chattopadhyay (Expert)
21 June 2016 It is a liability which can be set off against CENVAT. However, Swatch Bharat Tax would be considered as expenses. Same would be considered for KKC (Krishi Kalyan Cess)

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