How to calculate service tax on advance received and pay to Government , and journal entry of advance received .
suppose total advance received =50,00,000
service tax payable amount=50,00,000*12.36/112.36 =5,50,018

Journal entry in the books of service provider

Bank A/c DR. 50,00,000
To Party A/ cr 44,49,982
To service tax payable 5,50,018
this procedure is correct or incorrect.please reply this question.

Our vendor providing services from July.13 onwards. He has taken service tax registration in Mar.14 and submit the Service Tax bills ( Separately ) for the period July 13 To Mar.14 in Apr.14.

Sir, can we get cenvat credit against above bills in FY 2014-15

Pl. give your opinion

Thanks & Regards
L.D.Dharmadhikari

dear sir,
i have query regarding service tax on warehouse. if a person A is giving a warehouse to B on rent and B rents it to person C, person C uses it to store agricultural product. in this case who is liable to pay service tax under renting of immovable property,whether any transaction will fall under negative list or mega exemption.

Is AOP liable to reverse charge on advocate fees? If an AOP has units in many places, Is turnover limit of Rs 10 lac to be taken for the whole AOP or for only that unit of AOP for which advocate fess is related to?

From 1st July reverse charge mechanism came but if any service provider provides services to Pvt Ltd and till he has not taken registration till yet can Pvt Ltd Co will deduct Service Tax as per reverse charge and if not deducted who will pay full tax on these services ultimately

We are paying service tax with method grossing up. that is the amount received is inclusive of service tax and accordingly discharging service tax liability

My question is whether this service tax paid from our pocket is allowable expenditure under income Tax

Sir/ madam, i wrongly deposited service tax of rs 65 lacs into the a/c of my another company. The company in whose a/c service tax shoul have been deposited, tax is yet to be deposited in that a/c. i mean i had s tax liability of 65 lacs for A comp ltd but i wrongly deposited tax into the a/c of b ltd. How can i transfer this money to a comp ltd. Pls reply

Dear Experts,

let me know how can deposit service tax under rcm on advocat fee or legal advice, whether advocate firm charged us full service tax @ 12.36% .

My second query is if we paid under rcm RENT A Cab service tax would be taken cenvat or not?

thanks in advance your value able suggestion.

Hi friends

Service tax paid on Transport is taken as CENVAT credit against excise duty payable .

How to pass journal entries in Tally.

Dear Friend,

Kindly let me know that service tax liability of service receiver and provider, If we have received total bill amount of Rs.1,00,000/- from security agencies.

Thanks & Regards,
Murugan B