Accounting entry of payment & service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 September 2011
I had given Advance payment of Rs. 2.51 Lacs to our builder for the premises which is under construction. I received a letter that "You have paid Rs. 2.51 Lacs towards your office out of which out of which we have paid Rs. 6,301/- on yr behalf as Service Tax."
Pls let me know what should be the Accounting Entry I have to pass in my books for Payment to Builder and for Service Tax ? [ Specific accounting entry would be helpful to understand.]
This is my first year of Consultancy and I did not generate any revenue. Then also I am liable to pay such service tax ?
If not, what should be the process to get this refunded ?
Will Builder charge me Service Tax on all my payments ?
Pls let me know what should be the Accounting Entry I have to pass in my books for Payment to Builder and for Service Tax ? [ Specific accounting entry would be helpful to understand.]
This is my first year of Consultancy and I did not generate any revenue. Then also I am liable to pay such service tax ?
If not, what should be the process to get this refunded ?
Will Builder charge me Service Tax on all my payments ?
26 September 2011
Builder A/c debited.....244699
Service tax A/c debited....6301
to Bank A/c....251000
Service tax A/c debited....6301
to Bank A/c....251000
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