Entry for service tax input
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2016
A Car dealer purchased a vehicle worth Rs.50000/- which is inclusive of Service charges Rs.1230/- and Service Tax Rs.185/- and he issued C Form for the whole amount Rs.501415/-
How to pass entry for this transaction to take service tax input?
How to pass entry for this transaction to take service tax input?
05 December 2016
Purchase Dr. 50006.15
Service Charges Dr 1230
ST Dr 172.20
KKC Dr. 6.15
To Cash/Bank/creditors 51415.5
Note: → Value of SBC has been included in the car price, coz u can't claim ITC of SBC.
→ U may add the service charges to cost of assets (the above one is done only to explain u)
Service Charges Dr 1230
ST Dr 172.20
KKC Dr. 6.15
To Cash/Bank/creditors 51415.5
Note: → Value of SBC has been included in the car price, coz u can't claim ITC of SBC.
→ U may add the service charges to cost of assets (the above one is done only to explain u)
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