i want to know is it possible that service tax paid on security seriveces under reverse charge method,be debited to serivce tax account insted of debting cenvat credit input account.
is it correct to debit to service tax account and tranfer to p&L account and to show in p&L statement.
31 December 2013
Hi, ST paid under reverse charge for security charges is eligible for CENVAT credit and if the same you are claiming then it should not be debited to P/L account, it should be debited to CENVAT credit a/c and Kept in Balance sheet