We have Rs. 5 Lac liability under reverse charge from december 2014, we have not yet paid this liability nor we claim this as input, i want to know adjustment how to show this liability in books and return?
Pankaj Arora (Learner) (3134 Points)
02 May 2015We have Rs. 5 Lac liability under reverse charge from december 2014, we have not yet paid this liability nor we claim this as input, i want to know adjustment how to show this liability in books and return?
Aditya RVS
(Practice)
(221 Points)
Replied 11 May 2015
What is the nature of expense to which this liability pertains? The respective head of expense need to be increased (if the input credit is ineligible) or taken to Input credit account (if the same is eligible) and a corresponding liability needs to be created towards reverse charge Service Tax.
Please revert if this is not your query.
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
