Journal entry

This query is : Resolved

hemendra (Querist)
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20 September 2012 Hello,

This is with the reference of Tranporter/Logistic bill for material dispatch.

Transporter had given the bill without service tax. so pleae let me know the journal entry with service tax rate.

for example :

Transporter given the bill of Rs 100000 { NO OTHER INFORMATION FOR SERVICE TAX}

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 September 2012 Reverse charge is applicable on goods transport charges.
The service recipient has to pay the service tax on such charges.

Service tax has to be paid over and above the invoice value.

Service Tax = 1lakh*25%*12.36%

Journal Entry:

Transportation Charges 1,03,090
To Transporter 1,00,0000
To Service Tax Payable 3,090

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