Service tax on reverse charge
This query is : Resolved
31 December 2013
Hello,
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.
thanking you in addvance
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.
thanking you in addvance
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
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
01 January 2014
Dear sir,
1.if we are not claiming the CENVAT CREDIT, is it possible to debit the ST paid to P&L account.
2.is there any condition that the security charges only relates to Production?i.e security charges for office purpose be taken for cenvat credit?
thanking you
1.if we are not claiming the CENVAT CREDIT, is it possible to debit the ST paid to P&L account.
2.is there any condition that the security charges only relates to Production?i.e security charges for office purpose be taken for cenvat credit?
thanking you
02 January 2014
Hi,
1) Yes, If you are not claiming the CENVAT then Debit to P/c account.
2) There is no such condition in rule 2(l) of the cenvat credit rules, so that you can claim the input paid on Security charges
1) Yes, If you are not claiming the CENVAT then Debit to P/c account.
2) There is no such condition in rule 2(l) of the cenvat credit rules, so that you can claim the input paid on Security charges
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