Treatment Of Closing Cenvat
Last updated at April 16, 2024 by Teachoo
Q4
Service Provided
|
Service to X Ltd
|
|
|
Consultancy Service
|
1000
|
|
Add
|
|
|
Service Tax @ 14%
|
140
|
|
Swachh Bharat Cess @ 0.5%
|
5
|
|
Krishi Kalyan Cess @ 0.5%
|
5
|
|
Total
|
1150
|
Service Received
|
AIRTEL
|
|
|
Telephone Bill
|
4000
|
|
Add
|
|
|
Service Tax @ 14%
|
560
|
|
Swachh Bharat Cess @ 0.5%
|
20
|
|
Krishi Kalyan Cess @ 0.5%
|
20
|
|
Total
|
4600
|
What is ?
Output Service Tax
Input Service Tax
Service Tax Payable
-a-
|
Particulars
|
Tax
|
Swachh Bharat Cess
|
Krishi Kalyan Cess
|
Total
|
|
Output Service Tax
|
140
|
5
|
5
|
150
|
|
Input Service Tax
|
560
|
0
|
20
|
580
|
|
Service Tax Payable
|
0
|
5
|
0
|
5
|
|
Closing Cenvat
|
420
|
|
15
|
435
|
Note:-
Since there is closing Cenvat of Tax and Swachh Bharat Cess which we can carry forward to next period
However,we have to Pay Swachh Bharat Cess of 5 as it does not have any input
Q4B Continuing last question,Suppose in next period,
Service Provided
|
Service to X Ltd
|
|
|
Consultancy Service
|
60000
|
|
Add
|
|
|
Service Tax @ 14%
|
8400
|
|
Swachh Bharat Cess @ 0.5%
|
300
|
|
Krishi Kalyan Cess @ 0.5%
|
300
|
|
Total
|
69000
|
Service Received
|
AIRTEL
|
|
|
Telephone Bill
|
5000
|
|
Add
|
|
|
Service Tax @ 14%
|
700
|
|
Swachh Bharat Cess @ 0.5%
|
25
|
|
Krishi Kalyan Cess @ 0.5%
|
25
|
|
Total
|
5750
|
View Answer
|
Particulars
|
Tax
|
Swachh Bharat Cess
|
Krishi Kalyan Cess
|
Total
|
|
Output Service Tax
|
8400
|
300
|
300
|
9000
|
|
|
|
|
|
|
|
Input Service Tax
|
700
|
0
|
25
|
725
|
|
Add Opening Cenvat
|
420
|
0
|
15
|
435
|
|
Total Cenvat
|
1120
|
0
|
40
|
1160
|
|
|
|
|
|
|
|
Service Tax Payable
|
7280
|
300
|
260
|
7840
|
