12 August 2008
total freight 40000/- S.T on him 40000*25%*12.36%=Rs. 1236
so entry in books total freight 41236
To service tax payable 1236 To Party 40000
this entry is coorect? because we are book ST as a expense ok so can we claim input in such situation ?] if we are not able to utilized such input so can we take refund of it . refer me all provision?
20 August 2008
Mr. Sachin, As per the GTA Service, the liability to pay the service tax is on the person who paying the freight... Also u can't take the credit of the sum paid on account of service tax. It's ur expense.
CAclubindia
