Revarsal of Service tax credit

This query is : Resolved

ANSHUMAN KHANDELWAL (Querist)
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09 March 2009 Hi,
pl let me Know how we can adjust excess service tax credit in accounts.
Case : Service tax receivable Dr. 100000/-
Service tax Payable Cr. 200000/-
payment Entry is :
Ser tax pay Dr 200000
Ser tax rec 100000
Bank 100000
but later on but before ST payment due date, if we found that we have taken wrong credit in accounts than what is the rectification entry.
shoud we treat wrong service tax credit as aother income or any thing else?

Dayal

Dayal (Expert)
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09 March 2009 how can you have excess cenva credit, wrong credit will have to be reversed by taking the effect to service cost under the expense head to which it belongs