https://www.taxtmi.com/forum/issue?id=110975 Prior period expenses should be classified by whether a prior provision exists; amounts above the specified threshold are charged to the Profit & Loss Adjustment account, otherwise to current year expenditure. For tax credit, apply the point of taxation and the statutory time limit: CENVAT/service tax credit is available if the invoice is within one year of issuance, so an invoice dated in the current month for earlier services may still qualify if it meets the one year rule. en-us Thu, 29 Sep 2016 12:35:00 +0530 Thu, 23 Jan 2025 15:56:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=110975 Prior period expenses should be classified by whether a prior provision exists; amounts above the specified threshold are charged to the Profit & Loss Adjustment account, otherwise to current year expenditure. For tax credit, apply the point of taxation and the statutory time limit: CENVAT/service tax credit is available if the invoice is within one year of issuance, so an invoice dated in the current month for earlier services may still qualify if it meets the one year rule. Discussion-Forum Companies Law Thu, 29 Sep 2016 12:35:00 +0530 https://www.taxtmi.com/forum/issue?id=110975