Treatment of input service tax

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

12 April 2012 There are Rs. 85000/- of Service tax
Payable and input service tax of Rs. 8000/- in F.Y 2010-2011.

Service tax payable Rs. 85000/- shown in the balance sheet but neither input service tax credit of Rs. 8000/- set off against service tax payable nor shown in balance sheet.

Now service tax payment made of Rs. 77000/- after set off input service tax of Rs. 8000/- in 2011-2012. Hence Balance Shown in Service tax Payable A/c is Rs. 8000/- in F.Y 2011-2012.

How to treat input service tax of Rs. 8000/- in F.Y. 2011-2012

Please Reply soon....

BHARATH KOTHARI

BHARATH KOTHARI (Expert)
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15 April 2012 You Have Might have missed entry in last year please go back if possible pass the

Service TAx Payable a/c Dr.
To Input Credit on service Tax

then it will show the proper balance in balance sheet also

Querist : Anonymous

Querist : Anonymous (Querist)

16 April 2012 It can't possible due to in income tax Return Servive tax payable show amount of Rs. 85000, Hence now if pass above entry then balance sheet will change.

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