Journal entry under rcm
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)
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
security expenses dr.
to party name
then
party name dr
to bank
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
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
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
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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