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service tax

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(Querist)
03 June 2011 I have service tax credit of 293000/- in my books in the year 2010-11. However in the near future that credit is not going to be utilised. My question is whether it is benefical to book out the expenses instead of keeping it as credit in balance sheet, as I can save tax of 30%on that expenses?

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T.K. JAGANATHAN

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T.K. JAGANATHAN (Expert)
04 June 2011 There will be change in the accounting method from the previous periods and the same may be qualified by your statutory auditors.
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