Input Of Service Tax for Excise Dealers

Last updated at April 16, 2024 by

Q4

     Purchase  Raw Material                      Internet Bill In Office

Particulars Amount   Particulars Amount
Purchase 40000   Internet Charges 2000
Excise 12.5% 5000   Service Tax @ 14% 280
Total 45000   ED Payable 2280
Vat 5% 2250      
Total 47250      

Sales  Finished Goods

Particulars Amount
Sales 120000
Excise 15000
Total 135000
Vat 5% 6750
Total 141750

What is Excise Duty Payable?

-a-

Particulars Amount
Output ED 15000
Less  
Input ED (Cenvat on Inputs) 5000
Input Service Tax (Cenvat on Input Services) 280
Total Cenvat 5280
   
ED Payable 9720

What is Vat Payable?

-a-

Particulars Amount
Output Vat 6750
Less  
Input Vat 2250
Vat Payable 4500

Note :-
Input of Service tax will be available even if used in office

Q5

    Purchase Raw Material                      Internet Bill In Office

Particulars Amount   Particulars Amount
Purchase 40000   Internet Charges 2000
Excise 12.5% 5000   Service Tax @ 14% 280
Total 45000   Swachh Bharat Cess @ 0.5% 10
Vat 5% 2250   Krishi Kalyan Cess @ 0.5% 10
Total 47250   ED Payable 2300

Sales Finished Goods

Particulars Amount
Sales 120000
Excise 15000
Total 135000
Vat 5% 6750
Total 141750

What is Excise Duty Payable?

-a-

Particulars Amount
Output ED 15000
Less  
Input ED (Cenvat on Inputs) 5000
Input Service Tax (Cenvat on Input Services) 280
Total Cenvat 5280
   
ED Payable 9720

What is Vat Payable?

-a-

Particulars Amount
Output Vat 6750
Less  
Input Vat 2250
Vat Payable 4500

Note:-
Input of Service tax will be available even if used in office
But no input of Krishi Kalyan Cess and Swachh Bharat Cess on Expense Bills

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.