GTA - Service Tax
This query is : Resolved
15 February 2009
Dear Sir,
I want to ask a question that we pay GTA (Good Transport Service) @ 3.09%.
I am confuse that what will be entry in this matter for example :
We redeive a bill of 1,00,000/- of Goods Transport Service by Road and We pay Service Tax on this 3.09% AFter abatement. Please tell me where I put this expense ( which ledger )
Thanking You
Sunil Kumar Bindal
E-Mail : sunil_kumar10520@yahoo.com
I want to ask a question that we pay GTA (Good Transport Service) @ 3.09%.
I am confuse that what will be entry in this matter for example :
We redeive a bill of 1,00,000/- of Goods Transport Service by Road and We pay Service Tax on this 3.09% AFter abatement. Please tell me where I put this expense ( which ledger )
Thanking You
Sunil Kumar Bindal
E-Mail : sunil_kumar10520@yahoo.com
15 February 2009
You pass entery
service tax Dr
cess on Service tax Dr
Cess (S&H)on service tax Dr
Service tax Paid Dr
Bank a/c Cr
Bacause (service tax paid) on outward Cartage service tax not allowed it will treat as exps.
service tax & cess & cess S&H is your current assets
It should be adjust with Excise Duty Libility on Sales.
Otherwise you can take refunds.
service tax Dr
cess on Service tax Dr
Cess (S&H)on service tax Dr
Service tax Paid Dr
Bank a/c Cr
Bacause (service tax paid) on outward Cartage service tax not allowed it will treat as exps.
service tax & cess & cess S&H is your current assets
It should be adjust with Excise Duty Libility on Sales.
Otherwise you can take refunds.
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