Accounts head
This query is : Resolved
25 March 2012
Dear Sir,
Please advice me under what accounting head following ledger should open
1. Service Tax Account
2. Service Tax Payable
3. Excise duty payable
4. excise duty receivable
5. TDS payable
Thanks with regards
Please advice me under what accounting head following ledger should open
1. Service Tax Account
2. Service Tax Payable
3. Excise duty payable
4. excise duty receivable
5. TDS payable
Thanks with regards
25 March 2012
Service tax payable, excise duty payable and TDS payable are to be shown under Duties & Taxes (Current Liabilities).
Service tax account and excise duty receivable are to be shown under the head current assets.
Service tax account and excise duty receivable are to be shown under the head current assets.
25 March 2012
Agree with Siddhartha ji
26 March 2012
Agree wit Expert addition to that.......... if Service tax is your expenses which you are not claiming (like Service tax on outward freight) then that Service tax account is an indirect Expenses.
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