Hi

I need info on correctness of entries and taking credit

(a) on receipt of invoice Dt. 28th Feb 09
Dr. Expense
dr. ST credit
Cr. creditor account

as of 31st march 09 this amount was not paid

(b) the above amount was paid on 25th april 09

Dr. Creditor account
cr. Bank

(c) at the time of filig quarterly ST return Credit amt for the Journal passed on 28th feb 09 was utilized and net paid

Is the above entry correct.

Thx

Hi All

our is subsidiary company of a company listed in Australia. Now we are providing out sourcing service to holding company is Australia. When we bill it, we do charge service tax. So tell me is it right ?
Provide me with link / section or any other reference

we charge service tax on the basic amount and we receive payment after TDS deduction,do we need to pay the service tax charged on the basic amount or service tax on the received amount while we pay to the government

dear sir,
my query based on service tax when i earn income from project what amount to give service tax
for example i earn 500000 so i give 500000*30%*10.3% this is right step or not if not what calculation pl example to me and journal entry

thanks
Rajesh Rawat
(Accountant)

What is the rate of interest on delay payment of service tax

I hv one query regarding service tax on services provided to International Long Distance (ILD) Licence holder.

ILD holder terminates international call on our company national Long Distance (NLD) POI and we terminate these calls to Telecom Operator in indian territory like BSNL,AIRTEL,VODAFONE etc.

We had invoiced to ILD holder by leving service tax but he told us that he is providing services to foreign customer so that service tax is not leviable on export of services.

I want to know whether he is right or not.

Further, telecom operator (BSNL,AIRTEL etc.) on whom POI we terminate calls r also leving service tax on invoices to us and we r availing CENVAT.

According to me we hv to levied ST on invoiced to ILD Holder because we r providing services to ILD holder not directly to foreign customer and his office is in india.

thanks & regards,
CA Anuj

Hi Experts,

My client is providing Business Auxiliary services. Invioce is raised in Dollars. Say Invoice of 100$ (including service tax) & rate at the time of raising invoice was Rs.45.00, so my Ivoice amount would be Rs.4500.00 (including service tax), but while the bill is realised it is realised @ rate 44.00. So we have received only Rs.4400.00, n Rs.100 is my foreign fluctuation. We pay service tax on realisation basis. so m i liable to pay service tax on Rs.4400.00 or Rs.4500.00??? M i liable to pay service tax on foreign fluctuation also??

While providing services, a sole proprietor charges the service tax in bill and receives the same. But he knows that at the end of FY his total turnover will be less then 10 lacs.
So what should he do ? Should he make the payment of service tax quarterly and claim refund afterwards.
Or can he keep the money as a more gain/profit from his services.
Also, can you please let me know the treatment of the service tax money refunded, should they be paid back to companies from whom it was charged.

Please advice, your reply is very important.

Thanks,
Rina

Dear,

i wanna know whether service tax(10.3%) & cst(4%)...both will be charged in bill.i purchased some IT equipments ...where party charged both service tax & cst...

so pl. advice...

Sir,

i want to know the diff b/w Rule 5 & N.N 12/2003???
Rule 5 specifies the material sold by service provider while providing service shall be included & taxable to ST....
While NN 12/2003 specifies for taxable sevive these material sold shall be excluded...

Help me plz...