Prepaid expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 February 2015
i have paid insurance premium for 12 month period.it also include service tax element.my question is that,what is the accounting treatment of service tax,wheather it charge immediately on payment or it is charge as prepaid expenses.
18 February 2015
it has to be accounted as you have already paid.
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 February 2015
I just wanted to know,what i have to do with service tax part,wheather it is charged immediately or it is divided into prepaid period same as prepaid exp.
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