1. for manufacturing company when we pay service tax on freight through bank. entry service tax dr 100 ed cess 2 she cess 1 bank cr. 102 now we want to take credit this paid amount (102)in excise than who will be debited Dr. what?????? Rs. 102 cr. cenvat excise duty Rs. 102
26 August 2013
1- 1st Entry Service Tax (Cenvat Receivable in current assets) Dr By Rs 100 and other cess and credit bank- This entry is to be made when you paid Service Tax.
When you utilized Cenvat Credit, Entry Should be Excise Payable Dr and Cenvat Receivable Cr.
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