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How to pass journal

This query is : Resolved 
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(Querist)
14 June 2010 Hi

I am working in service oriented company, we raised one invoice during march’10 for
Rs.10 lakh + tax, we have done sale promotional activity for 107 corporate out of
That 15 corporate service was not accepted by our client worth coming around rs.45000
=+ tax , that reversal communication we got it on may’10, still our 09-10 books are open
we suppose to reduce the 45000 during 09-10 but we have passed entry in 10-11, kindly
advice how to pass entries for this?

Regards
sridhar
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
14 June 2010 You have to pass entry on 31st March 2010 itself, otherwsie you have to pay Income tax on income which is not recevied by you.


Journal Entry
Service Receipt A/c DR. (Name of account by which you are showing billing) 45000/-
Service Tax Payable Dr. 4635
To Service Receipt Not Recoverable 49635/-

In next year
Service Receipt Not Recoverable Dr .49635
To Party name 49635/-
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Sridhar

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Sridhar (Querist)
15 June 2010 Thank you so much Sir,

Regards
Sridhar
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