24 January 2016
Swatch Bharat Cess is an additional levy @0.5 % on Services Rendered and / or Received. The same is payable only in Cash i.e through GAR - 7 Challan [e-payment through bank]. Further SBC is not CENVATable and hence no Input credit can be taken. In your illustration you are liable to pay the entire Rs.2,000/- and the SBC of Rs.1,000/- you have paid on services received for rendering output services should be charged directly as expenses to P & L Account.
CAclubindia
