Maintain of service tax books seprately before registration or not
Mohammad Adil (Accountant) (64 Points)
16 December 2015Mohammad Adil (Accountant) (64 Points)
16 December 2015
MOXESH DOSHI
(INTERNAL AUDITOR)
(57 Points)
Replied 16 December 2015
CENVAT Credit on Input service are available only if the service porvider is providing "Output Service."
Since the assessee is not registered under service tax as the turnover does not exceed Rs. 10,00,000 limit, All the service provided by the assessee are considered as "Exempted Service" i.e., These are not an "Output Service".
Thus, Assessee shall not get Cenvat Credit on Input Service.
Mohammad Adil
(Accountant)
(64 Points)
Replied 16 December 2015
and what will be the accounting treatment of input services we will treat them as an expense or maintain seprate books of service tax.
MOXESH DOSHI
(INTERNAL AUDITOR)
(57 Points)
Replied 16 December 2015
Yes, It should be expensed out straight away.
Mohammad Adil
(Accountant)
(64 Points)
Replied 16 December 2015
and on what amount we will deduct tds expense+service tax or only on the expense amount
MOXESH DOSHI
(INTERNAL AUDITOR)
(57 Points)
Replied 16 December 2015
TDS to be deducted only on Expense amount excluding Service TAx amount.
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