Invoice,service tax and tds
This query is : Resolved
26 November 2012
Hi,
I need clarification- if they charged Service Tax on that what is the entry and what about TDS, let say
1)Invoice.
Security Service Charges-10000
Service Tax(12.36) 1236
2)TDS(2%)Treatment-Rs.225.
When i have to consider- while passing the entry or while making the payment. And what the entries for all the above.
Thanks
linga
I need clarification- if they charged Service Tax on that what is the entry and what about TDS, let say
1)Invoice.
Security Service Charges-10000
Service Tax(12.36) 1236
2)TDS(2%)Treatment-Rs.225.
When i have to consider- while passing the entry or while making the payment. And what the entries for all the above.
Thanks
linga
26 November 2012
(A) Assuming you are NOT eligible for CENVAT credit
1. On receipt of invoice
Security Expenses A/c Dr. 11,236
To Service Provider 11,011
To TDS Payable 225
2. On payment of TDS
TDS Payable A/c Dr
To Bank
(B) If you are eligible for CENVAT credit
Security Expenses A/c Dr 10,000
CENVAT Credit Receivable(Input)A/c Dr 1,236
To Service Provider 11,011
To TDS Payable 225
1. On receipt of invoice
Security Expenses A/c Dr. 11,236
To Service Provider 11,011
To TDS Payable 225
2. On payment of TDS
TDS Payable A/c Dr
To Bank
(B) If you are eligible for CENVAT credit
Security Expenses A/c Dr 10,000
CENVAT Credit Receivable(Input)A/c Dr 1,236
To Service Provider 11,011
To TDS Payable 225
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