How to make journal entry if service receiver do not pay st

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 April 2016 i have a raise a invoice of RS. 1,14,500
service charges 1,00,000
service tax 14,500
total 1,14,500
and i have only received RS. 1,00,000
i have made entry in my books
1. party A/C DR 1,14,500
To Service tax payable 14,500
to income 1,00,000
2 on receipt of amount Rs.
bank A/C Dr. 1,00,000
to party A/C 1,00,000
and service receiver not willing to pay service tax amount then what next entry shall be made in books of service provider to make short payment received and service tax tax liability. please reply this question.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

10 April 2016 Issue credit note for 14,500 and back work the service tax on 1 lac and pay it.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

10 April 2016 Since you have issued INVOICE.
Pay service tax 14500. Debit service tax payable 14500, credit bank 14500
After the reasonable care and follow, if you feel that the amount of 14500 is not recoverable, then pass the entry debit bad debt 14500, credit party account 14500

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Shantaveeresh Manur

AJAY Kumar Agrawal

RATI MALU

ASHOK KUMAR TEKURU

RISHI LATTA

Subscribe Now

How to make journal entry if service receiver do not pay st

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANCY

Senior Executive

GST CONSULTANT

Manager- Finance and Compliance

Accountant