Tds and service tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2015 Hello Guys,

As the year end is there, how can I make a provision in books for specific expenses if the Service tax and TDS matter is there.
e.g.
Service Bill 100000
Service Tax 12360
TDS 10%

what entry should I post for provision??

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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03 April 2015 do u get cenvat credit of servie tax...

if u dont get

expense a.c dr 112360
to tds payable 10000
to party 102360

CA Deven

CA Deven (Expert)
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03 April 2015 If CC available to u,

Exp Dr. 100000
Service Tax receivable Dr. 12360
To TDS 10000
To Party 102360

CA AnKiT BoHrA (AB)

CA AnKiT BoHrA (AB) (Expert)
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03 April 2015 yupp.. agreed with CA Deven

Querist : Anonymous

Querist : Anonymous (Querist)

03 April 2015 Thanks Dear Sirs..

but the cenvat credit rules says the credit is only available at the time of Payment of service tax

Also, is it necessary at year end to take a provision of service tax receivable