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Input Credit Adjustment

Ajay s (Accounts Officer) (243 Points)

14 March 2011

Dear All

We have service Tax Liability of 90,778/- Due on 05-09-10 and we have a credit of Rs.46727/- on Feb 11

How this credit is adjusted and what is the actual Interest Payable ?

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4 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 14 March 2011

You can only adjust this in month of February ………

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Ajay s (Accounts Officer) (243 Points)
Replied 14 March 2011

So we cant Take this Credit againt that Liability?

Can u clear ur answer pls

Pankaj Arora (Learner) (3134 Points)
Replied 14 March 2011

Yes you can only adjust liability in feb only because you remit payment to creditors in February that’s why its realization in February as you are saying…..

U S Sharma (glidor@gmail.com) (21063 Points)
Replied 14 March 2011

Originally posted by : Ajay s
	Dear All We have service Tax Liability of 90,778/- Due on 05-09-10 and we have a credit of Rs.46727/- on Feb 11 How this credit is adjusted and what is the actual Interest Payable ?