Input service tax credit

This query is : Resolved

Mukesh Suthar (Querist)
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13 April 2012 There are Rs. 85000/- of Service tax
Payable and input service tax of Rs. 8000/- in F.Y 2010-2011.

Service tax payable Rs. 85000/- shown in the balance sheet but neither input service tax credit of Rs. 8000/- set off against service tax payable nor shown in balance sheet.

Now service tax payment made of Rs. 77000/- after set off input service tax of Rs. 8000/- in 2011-2012. Hence Balance Shown in Service tax Payable A/c is Rs. 8000/- in F.Y 2011-2012.

How to treat input service tax of Rs. 8000/- in F.Y. 2011-2012

Please Reply soon....

BHARATH KOTHARI

BHARATH KOTHARI (Expert)
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15 April 2012 You Have Might have missed entry in last year please go back if possible pass the

Service TAx Payable a/c Dr.
To Input Credit on service Tax

then it will show the proper balance in balance sheet also