Amount paid to goods transporter without any service tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 June 2014 helo,
i am auditing the financial statements of a CFA agent in partnership.
i want to know the the treatment of service tax when payment is made to transporter and the same payment would be refunded by the company to CFA agent.
For example
A bill has been issued by by transporter for Rs.1000000 & transporter has not charged service tax at all.
CFA paid the same Rs 100000 to the transporter & will claim same from the company.
what should be the treatment of service tax in the above case

Sandeep Dharar

Sandeep Dharar (Expert)
Follow

09 June 2014 ST should b charged in that case. If it is not charged then the amount of Rs. 1L will b Deemed to b inclusive of ST and will b treated as per that.

Querist : Anonymous

Querist : Anonymous (Querist)

10 June 2014 what shud b the journal entry if both CFA & company have ignored service tax.......& wat iz the role of ISD......

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now