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Accounting treatment of advance in case of service tax

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(Querist)
06 November 2015 What will be accounting treatment of Advance Received against the service to be rendered and at the time of the invoice generation? For Example :- 30/12/2015 :- Received advance Rs 100000 02/02/2016 :- Service Rendered Thanks in advance
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Rajnish Singh

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Rajnish Singh (Expert)
09 November 2015 Manish there are two way to book advance payment of service tax.

first : raise Bill for advance payment and book this bill as provision for sale in future.

Customer Debti

to Provision for service render in future

to service tax payable.

another way

bank account dr.

to customer
to service tax payable.
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