Partial reverse charge
This query is : Resolved
CA Mukul Jain
(Querist)
06 May 2013
We(Co.) are paying 10000 p.m as security guard charges to a firm..
our ST liablity is 75%
their ST liability is 25%
how should we account it??
Please help.
Thanks.
our ST liablity is 75%
their ST liability is 25%
how should we account it??
Please help.
Thanks.
PUNEET GOYAL
(Expert)
07 May 2013
Security Charges Dr.10000
Input ST, EC & SHEC Dr. 309
Input ST, EC & SHEC (68(2)Dr. 927
To Sundry Creditors Cr. 10197
To TDS Cr. 112
To ST, EC & SHEC Payable (68(2))Cr. 927
Input ST, EC & SHEC Dr. 309
Input ST, EC & SHEC (68(2)Dr. 927
To Sundry Creditors Cr. 10197
To TDS Cr. 112
To ST, EC & SHEC Payable (68(2))Cr. 927
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CA Mukul Jain
(Querist)
08 May 2013
When should I take credit of 927???
suppose security charges is for April, we paid them on 2 May and we have output ST of 1000
How much does we require to pay on 5/6th May???
does we require to pay 927 on 5/6th June and take credit thereafter..
suppose security charges is for April, we paid them on 2 May and we have output ST of 1000
How much does we require to pay on 5/6th May???
does we require to pay 927 on 5/6th June and take credit thereafter..
PUNEET GOYAL
(Expert)
08 May 2013
Its credit can be taken only after its payment in Govt. Account. So first deposit it and only thereafter you can take its credit.
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