Financials for India - EBS (MOSC)

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Service Tax Reversal in case invoice is not paid in 90 days

edited Mar 20, 2014 12:02AM in Financials for India - EBS (MOSC) 1 commentAnswered

Hi All,

In case business has not paid the invoice even after 90 days of taking the Service Tax Credit (Final Recovery account) - as soon as Invoice with service tax component was booked as part of Point of Taxation (Accrual based accounting) the credit was taken.

Now, if the aging of invoice is more than 90 days - what is the check on the reversal of such service tax credit?

Regards,

Saurabh Singhal.

+91 - 8884111518.

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