Journal entry under rcm

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2014 service receive from firm for security services service receiver is company.

Security services =1,00,000.00
ST = 3,090.00
Total amount =1,03,090.00

what will be the journal entry in the case of company (service Receiver)

Guest

Guest (Expert)

30 May 2014 if u dont take any input

security expenses dr.
to party name

then

party name dr
to bank

Rupesh Jain

Rupesh Jain (Expert)

30 May 2014 security exp. 100000
service tax receivable a/c 3090
service tax receivable a/c 9270
to party Name 103090
to service tax payable (reversing charge)9270

party a/c

to Bank

Message likes : 1 times

CA.Rashmi Billore

CA.Rashmi Billore (Expert)

30 May 2014 1.At the time of booking of expenditure and service tax liability

Security Charges Dr. 100000
Service tax input but not due Dr. 9270
(bcaz service tax input can be avail afetr payment of S.tax under RCM)
Service tax input Dr. 3090
(which is payable to party)
To Party 103090
To Service tax payable 9270 (payable as service receiptent)

2. At the time of payment of service tax

Service tax payable Dr.
To Bank

3.After payment of service tax as service receiptent you can avail service tax input so

Service tax input Dr. 9270
To service tax input but not due 9270

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