Tution fee

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 April 2014 I want to pass entry for Receiving Tution Fee .

How to Pass Service Tax entry when mode of receipt is in Cash / Bank .

Kindly provide me Entry for the Same

Sandeep Dharar

Sandeep Dharar (Expert)
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24 April 2014 Cash/Bank Dr
Service Tax Dr
To Debtors

Note:- Debtor here is the students from whom u received the funds.

Querist : Anonymous

Querist : Anonymous (Querist)

24 April 2014 I have pass entry as -

Student Name/Course Name A/C Cr.26292
Cash A/C Dr.30000
Service Tax A/C Cr.3708

Is it Correct ?

Sandeep Dharar

Sandeep Dharar (Expert)
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24 April 2014 The amount credited to student should be Rs. 33,708/- & ST should b debited. The entry mentioned by me above is correct. Plz follow the above one.

Querist : Anonymous

Querist : Anonymous (Querist)

24 April 2014 But when we mentioned on Tution Fee receipt as - Above Tution Fee including Service Tax

Then my entry is Correct or Not ?

Kindly explain........

Sandeep Dharar

Sandeep Dharar (Expert)
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24 April 2014 YES IN THAT CASE U R RIGHT.

Cash Dr 30K
To ST 26.292K
To party 3.708K

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

24 April 2014 Thanks A lot Sir for solving my Problem .

Sandeep Dharar

Sandeep Dharar (Expert)
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24 April 2014 Ur welcome friend.