Financials for India - EBS (MOSC)

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Service Tax Process for Credit balance

edited Feb 17, 2014 12:00PM in Financials for India - EBS (MOSC) 5 commentsAnswered


Hi All,

We have only Service Tax Credit Balance in our Organization,No Debit Balance

In Period End,What is the Process in this case?

Incase of Normal Process

If we have both Cr and Dr

1.Running the India-Service Tax Process

2.Service Tax Repositary is Updating

3.If any Debit balance is more than Credit Balance => We will process and Pay the Liability to Service Tax Authority

When we click the Process,an AP Invoice will create against Service Tax Authority.And Will make the Payment.

After making the Payment to ST Authority,Net balance will goes to 0?

How do we go for Settlement and Claim process incase of Only Credit Balance?

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