Entry
This query is : Resolved
15 October 2011
dear sir i received bill of service charge as on 28-sep-2011 of Rs. 10000 with service tax 1030 total amount is 11030,in tally how how we make entry,we received this party payment as on 12-oct-2011 how we make entri in tally when our service tax payment liability raise
15 May 2012
It is not clear from your query whether you are service provider or service recipient.
Assuming you are service provider
Debtor A/c Dr 10,000
To Service Income 1,030
To Service Tax Payable 11,030
Service Tax Payable A/c Dr
To Bank A/c
As per Point of Taxation Rules, service tax liability arises at the time of issue of invoice or receipt of payment whichever is earlier.
Assuming you are service provider
Debtor A/c Dr 10,000
To Service Income 1,030
To Service Tax Payable 11,030
Service Tax Payable A/c Dr
To Bank A/c
As per Point of Taxation Rules, service tax liability arises at the time of issue of invoice or receipt of payment whichever is earlier.
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