Co is into education service : Provide Personality Devlopment Training to colleges. Total bill raised 50 lac + ST this month and recieved 55.1 lac (515000 as ST).
Co has taken infrastructure service from an engineer worth 20 lac + ST and service worth 25 lac + ST from maintainance co, total ST to be paid 463500,
QUERY : Now may this ST to be paid (463500) may be adusted through the ST already paid (515000)?
How to do it , shld a total payment of only Rs. 45 lac be made without ST ?
09 May 2011
The credit would be avaiulable on payment basis upto the end of March 2011. If the service is after that date then credit is availbel on accfrual basis provided the payment is made within 3 months.
CAclubindia
