whether service tax of previous years can be claimed as deduction in current year?as service tax registration done in current year and servicetax of previous two years paid along with,if deduction not possible then under which section its disallowed?
2 Replies
CA Chandra Prakash
(9873059766 Increasing knowledge through sharing)
(296 Points)
Replied 13 August 2015
Service tax is not an expense its a liability. Assessee received s.tax on behalf of GOVT. And paid to Govt. So there is no question of deduction allowed.
vini
(articled assistant)
(35 Points)
Replied 14 August 2015
please can you tell the accounting treatment of same with journal entry?
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
