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Issue in servcie tax credit entries at the time of MIRO

Dear Experts,

We have following entries at the time of MIRO of service PO in our system,

GR/IR A/C Dr 100

Cen Rec Service tax Dr. 12

Cen Rec Servcie Tax Css Dr. 00.36

To Vendor A/c 112.36

Now after new changes in excise cenvat rules, business can't take cenvat credit after six month. Means if invoice is of today's date i.e. 22/12/2014 then business can take credit of this invoice till 22/05/2015. Now business wants, if they post invoice after six month i.e. after 22/05/2014, cenvat credit should go to expense GL maintained in PO means will proceed as non cenvat PO. Entries should be like

GR/IR A/c Dr. 100

Exp A/C Dr 12.36

To Vendor A/c 112.36

How can I achieve this requirement. Need your guidance.

Regards,

Ankit K. Agarwal

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1 Answer

  • Dec 23, 2014 at 05:50 AM

    Dear Experts,

    Please guide.

    Regards,

    Ankit K. Agarwal

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    10|10000 characters needed characters exceeded