HOW TO SET OFF CENVAT WITH SERVICE TAX
MY CENVAT BALANCE 50000
SERVICE TAX LIAB 19773
ADD (2+1) ON ST 593
I CAN ADJUST CENVAT TOWARD 19773 OR 19773+593
2 Replies
C.V.R.SARMA
(SERVICE)
(90 Points)
Replied 02 February 2013
From the query posted, it appears that the unit wants to discharge the service tax liability through debits from the cenvat account. In such a case, credit of service tax can be utilised for payment of service tax on the output service and similarly the credit of EC ( 2% ) if any available with you then the same can be utilised towards the education cess of the output service and similar is the case with secondary and higher education cess.
CA ANKUSH AGGARWAL
(CHARTERED ACCOUNTANT)
(2782 Points)
Replied 06 February 2013
| Originally posted by : C.V.R.SARMA | ||
 |
From the query posted, it appears that the unit wants to discharge the service tax liability through debits from the cenvat account. In such a case, credit of service tax can be utilised for payment of service tax on the output service and similarly the credit of EC ( 2% ) if any available with you then the same can be utilised towards the education cess of the output service and similar is the case with secondary and higher education cess. |
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