Journal entry

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2012 Dear Sir,
Plz advice me what will be the journal entry if I will pay the service tax amount of service provider as per following details :-

Party :- security guard service provider
Amt :- 44900+ service tax 5549.64 = 50450 net amount

Is this entry right ?

Security chgs ..Dr. 50450
Tds ….Cr. 1009
Security provide…..Cr. 49441

plz sugest me how will treat of service tax amount which will pay by me.

CA C.JANANI

CA C.JANANI (Expert)
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11 October 2012 The entry will be,

Security charges A/c Dr 50450
To TDS payable A/c Cr 1009
To Service Provider A/c Cr 49441

On payment,

Service provider A/c Dr 49441
To bank 49441

TDS payable will be a liability to be remitted in books.

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2012 dear sir,
what will be the entry of Service tax amount 5550/- when i will pay this.

CA C.JANANI

CA C.JANANI (Expert)
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11 October 2012 The service tax is to be paid by the service provider and not you. The amount has been paid by you already to the service provider.

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2012 DEAR SIR,
PERHAPS SOME AMENDMEND IN SERVICE TAX SO SERVICE TAX SHOULD BE PAID BY ME . BEFOR THIS MONTH I PASS THE JOURNAL ENTRY LIKE THIS TYPE :-

SECURITY EXP. ...DR 44900/-
SERVICE TAX RECEIVED ....DR 5550/-
TDS......CR 1009/-
SERVICE PROVIDE...CR 49441/-

CA Amit Rajput

CA Amit Rajput (Expert)
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11 October 2012 Security Charges Exps. A/C Dr. 44900
Service tax Receivable A/C Dr. 5550
To Tds Payable A/C 1009
To Service provider a/C 49441

And

Service provider A/C Dr 49441
To Bank A/C 49441

Querist : Anonymous

Querist : Anonymous (Querist)

11 October 2012 amit sir,
i want to know wat will be the entry when i paid the service tax .(100% service tax payable by service receiver) as per notification no. 30/2012-st dtd. 20.06.12 wef 01.07.2012.

Querist : Anonymous

Querist : Anonymous (Querist)