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Former Member
Jul 31, 2007 at 10:02 AM

Availment of Service tax Credit at the time of MIGO


Hi Friends

As per our business scenario we want to avail Service tax Credit on all consumables at the time of MIGO.

I need to configure the accounting entries as follows.

<u><b>At the time MIGO</b></u>

Stores Inventory Dr 100

Service Tax Credit Dr 16

Service Tax Credit E-cess Dr 0.32

To GRIR 100

To Service Tax Clear 16.32

<u>]<b>At the time of MIRO</b></u>

GRIR Dr 100

Service tax clear Dr 16.32

To Vendor 125

Please help me out how to map/ Configure this.Please give me step by step.

Thanks and Regards

Nirmal Sitaram