FIROZ (Asst. Manager - Accounts) (38 Points)
31 October 2011Dear All,
In my compnay, excise & service tax inputs on purchases during the year 2010-11 were not utilised and total amount charged to P&L Account. My quetion is Can I utlised the excise & service tax inputs received on 2010-11 during current year i.e. 2011-12? If yes, which procedures I have to follow and which type of entry I have to pass in my accounts book?
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 01 November 2011
if you have taken input credit in 2010-11 and in returns you have shown the same, then you can utilize the same in current year, otherwise not.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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