Input Credit Adjustment

Ajay s (Accounts Officer) (243 Points)

11 December 2010

Dear All

Please solve my problem in service tax input credit adjustment

I have service tax liabilty for June Rs.2000, July 5000 ,Aug 3000 ,& Sep 9000

I Have Input Credit on July 1000, Aug 4000 & Sep 2000

How I can set off the liabilty with input credit

please give detailed answer

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3 Replies

U S Sharma (glidor@gmail.com) (21056 Points)
Replied 26 December 2010

Month....... ST Liability.......... ST Input......... Net Payable

June..........2000.....................NIL......................2000

July ...........5000.....................1000...................4000

Aug............3000...................4000....................(1000)

Sept ..........9000...................2000...................6000 (1000 of previous month taken in account)

Total Payout ...................................................12000

soni chauhan (Service) (670 Points)
Replied 27 December 2010

Yes ,U S sharmais right ....but services payable on Gta should be paid in cash by manufacturer.

Yogesh (Account Assistant) (54 Points)
Replied 29 December 2010

plz tell me can we use service tax credit of 10% for payment of Excise Edu cess & S & H Edu Cess

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