Entry of service tax

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This query is : Resolved

girish (Querist)

24 September 2012 we received Rs. 148315 for 11 months rent
(11 X 12000+service tax) in advance on 1/05/2012 and we deposit Rs. 16315 ST to department 5/06/12.

now we raise month wise bill to party and
we pass jv

Party a/c ....13483
To Rent ....... 12000
To Service Tax....... 1483

what is the entry for service tax adjustment which we have already paid ST.

if any other we make pass please tell.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)

24 September 2012 At the time of receiving of advance rent including service tax and at the time of payment of service tax which entries you passed and how you treated these.

OM SAI SRI SAI JAI JAI SAI

Amol S Joglekar

Amol S Joglekar (Expert)

24 September 2012 bank a/c debit 148315 to Party (Tenant)a/c credit 148315. on 1/5/2012 .....Service tax debit 16315 to Bank a/c credit 16315. (Service tax account will get nullified, so will be the party's (tenant) account.

girish

girish (Querist)

24 September 2012 but month wise i will genrate bill with service tax than how i will adjust service tax which i have already paid.
month wise i should adjust st.

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