I am receiving a security service on the end after passing entry i find some Balance in Service Tax Deferred Input A/c and Service Tax Input Credit A/c.
what the balance transferred entry to be passed at the end of F.Y.
27 October 2014
Service tax deferred input balance should equal to your service tax amount payable as reverse charge . .
once u made payment,,defered input will be transfered to service tax input . . and ofcourse rcm service tax payable account will get reduced by bank payment . . so nothing will come to profit and loss statement