Journal entry after payment of service tax from parent co.
This query is : Resolved
01 June 2015
Dear Sir,
There are two company A & B. B is a sister company of A and B is not having its Bank account. It is newly establish. While generating sale B providing service tax details of A only. now while making service tax payment due B is not having its bank account we paid service tax of B from A's Account now i want to passed JV in both the company to adjust service tax.
Kindly guide me to pass the entry .
There are two company A & B. B is a sister company of A and B is not having its Bank account. It is newly establish. While generating sale B providing service tax details of A only. now while making service tax payment due B is not having its bank account we paid service tax of B from A's Account now i want to passed JV in both the company to adjust service tax.
Kindly guide me to pass the entry .
CA Parul Saxena
(Expert)
01 June 2015
While making service tax payment:-
In the books of B:-
Service tax payable Dr...........
TO A Ltd.
In the books of A:-
B Ltd....................
To Bank account
but you should avoid making payment from other companies as co.act 13 has restrictions on it.....
In the books of B:-
Service tax payable Dr...........
TO A Ltd.
In the books of A:-
B Ltd....................
To Bank account
but you should avoid making payment from other companies as co.act 13 has restrictions on it.....
CA Parul Saxena
(Expert)
01 June 2015
Yes consider B as a debtor
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