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Accounting entry for service tax with group detail

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 November 2011 INCASE WE ARE TAKING TRANSPORTATION SERVICE FOR RS. 70000/- AND TRANSPORTER GIVE US BILL FOR SAID AMOUNT WITHOUT SERVICE TAX AND MARKED IN HIS CONSINGMENT NOTE (L R ) SERVICE TAX HAS TO BE PAID BY US.

IN SUCH CASE WE ARE READY TO DEPOSIET SERVICE TAX INTO GOVT. DEPT ON BEHALF OF TRANSPORTER

BUT WHAT ARE THE ALL ACCOUNTING ENTRIES (WITH THEIR ACCOUNING GROUP) FOR ENTIRE TRANSACTION FROM RECEIVED L/R (LORRY RECEIPT) TO PAYMENT OF SERVICE TAX
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ADITYA

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ADITYA (Expert)
06 November 2011 You have to creat two accounts in your account books

1 Transportation/ Freight Charges
2 Service TAx (GTA)

You have to debit these accounts while making payments and at the time of finalisation, these accounts may be clubed
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