Service tax entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 October 2014 Dear Sir,

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.

It can transferred to P & L A/c ?

Please tell in detail

Ganeshbabu K

Ganeshbabu K (Expert)
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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