Education cess
Querist : Anonymous
further if we purchase services and get Service Tax input Rs. 1000/- as S.Tax, 20 as Edu. cess, and Rs. 10 as Sec. Edu. Cess.(12.36 %)
my querry is how much input credit we actualy received Rs. 1000/- or Total Rs. 1030/-
Thanks
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Later Create 3 Output ledgers and 3 input ledgers under [EXCISE DUTY]
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On Payment time transfer to Service tax Payable after adjusting the input to output
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From there Bank payment will happens
Querist : Anonymous
can please tell me the adjusting entry of input & out put, I am fresher one
kindly info me in brief
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Cr.Service tax input
Cr.serv.tax. Edu. cess
Cr.Serv.tax Sec.Cess
Dr.Output Service tax
Dr Output Educess
Dr.Output Sec.Cess
Cr.Service tax payable
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On payment
Dr.Service tax Payable
Cr.Bank A/c
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Cr.Service tax input
Cr.serv.tax. Edu. cess
Cr.Serv.tax Sec.Cess
Dr.Output Service tax
Dr Output Educess
Dr.Output Sec.Cess
Cr.Service tax payable
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On payment
Dr.Service tax Payable
Cr.Bank A/c
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