Accounting entry under sb cess
This query is : Resolved
18 November 2015
I have Question Regarding Accounting Entry under SB Cess
Example:-
1. Services Provider Raise Invoice for Rent:-
Rent 1000 Cr.
S. Tax 14% 140 Cr.
SB Cess 0.5% 5 Cr.
Party ( Service Receiver) A/c 1145 Dr.
2. As Services Receiver, We have Received Invoice, then Accounting ( if Cenvat Credit Not Available on SB Cess)
Rent Exp. 1000 Dr.
Cenvat Credit on S. tax 140 Dr.
? ( head of Voucher) 5 Dr.
TDS Payable ? Cr.
Party ( Service Provider) ? Cr.
Example:-
1. Services Provider Raise Invoice for Rent:-
Rent 1000 Cr.
S. Tax 14% 140 Cr.
SB Cess 0.5% 5 Cr.
Party ( Service Receiver) A/c 1145 Dr.
2. As Services Receiver, We have Received Invoice, then Accounting ( if Cenvat Credit Not Available on SB Cess)
Rent Exp. 1000 Dr.
Cenvat Credit on S. tax 140 Dr.
? ( head of Voucher) 5 Dr.
TDS Payable ? Cr.
Party ( Service Provider) ? Cr.
18 November 2015
Debit SB Cess a/c and
Rent and SB cess will be carried to P & l a/c
Rent and SB cess will be carried to P & l a/c
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