Financials for India - EBS (MOSC)

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Partial Payment on Reverse Service Tax

edited Jan 15, 2014 7:58PM in Financials for India - EBS (MOSC) 1 commentAnswered
 Hi,
I have applied a Reverse charge Service Tax on an Invoice with 40% Credit availed on accounting the invoice and 60% on Reverse Charge.

When I make a partial payment on the Invoice, the Liability is proportionately getting created, however the corresponding credit is created for the whole 60%.

Is this an issue? Does the law say anything on the Partial payment of Reverse Charge Service Tax ?

Regards,
Hari Charan

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