Accounting of Purchase
This query is : Resolved
SIJU VARGHESE
(Querist)
18 November 2009
Sir,
I am a Manufacturer of VAT exempted Goods. We receive some Job Works from others and on which they deduct service tax @10%(Inv.Form 8C).My question is, how can we show such Invoice value in A/cs.I mean, Purchase Value incl. tax or separately.
Please Reply.
I am a Manufacturer of VAT exempted Goods. We receive some Job Works from others and on which they deduct service tax @10%(Inv.Form 8C).My question is, how can we show such Invoice value in A/cs.I mean, Purchase Value incl. tax or separately.
Please Reply.
Ram Avtar Singh
(Expert)
18 November 2009
its not purchase its job work charges. service tax cenvat credit abailable. entery like this.
jobwork charges dr
service tax dr
cess on service tax dr
S&H Cess dr
xyz party cr
then dedct TDS @ 2%
xyz dr
TDS payabke cr
jobwork charges dr
service tax dr
cess on service tax dr
S&H Cess dr
xyz party cr
then dedct TDS @ 2%
xyz dr
TDS payabke cr
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