Journal entry
This query is : Resolved
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}
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}
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
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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