Accounting in reverse charge machanism
This query is : Resolved
08 June 2013
1 of our client receive security service which is covered under reverse charge machanism the billing of which is as under
Security Service Rs 100
ST 3.09
ST to be born by
Service receiver 9.27
Total bill Amt
Payable 103.09
now how will we account the same what is the amt of expenditure that will be shown in the p&l is it 103.09 or 112.36
we donot take ST credit
and at what amt TDS is to be deducted on 103.09 or 112.36
Security Service Rs 100
ST 3.09
ST to be born by
Service receiver 9.27
Total bill Amt
Payable 103.09
now how will we account the same what is the amt of expenditure that will be shown in the p&l is it 103.09 or 112.36
we donot take ST credit
and at what amt TDS is to be deducted on 103.09 or 112.36
08 June 2013
Service provider where covered under reverse charge method need to raise the invoice with service tax of their portion only.
In case service receiver, if not taking cenvat credit then need to account total amount as expenses only so expenses Rs.112.36.
But in TDS point, tds apply on only the bill Amount of Rs. 103.09
Service provider where covered under reverse charge method need to raise the invoice with service tax of their portion only.
In case service receiver, if not taking cenvat credit then need to account total amount as expenses only so expenses Rs.112.36.
But in TDS point, tds apply on only the bill Amount of Rs. 103.09
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Taxation on LTCG for property sold after 24JUL2024
- GST ON DAMAGED GOODS
- Tax liability on income of freelancer
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
