Provision Entry of Bills Containing Service Tax
This query is : Resolved
17 July 2008
Dear Sir,
I Want to make a provision entry of Entry of Audit Fees of Rs 1,00,000/- + Service Tax Rs 12,360/- Should i make separate entry of Rs 1 Lac and Rs 12,360/- or Should i make entry of Rs 1,12,360/- since we have not recd the bill
Regards
Ravi Konda
I Want to make a provision entry of Entry of Audit Fees of Rs 1,00,000/- + Service Tax Rs 12,360/- Should i make separate entry of Rs 1 Lac and Rs 12,360/- or Should i make entry of Rs 1,12,360/- since we have not recd the bill
Regards
Ravi Konda
17 July 2008
Since the liability for service tax is a ascertained liability, it must be provided. As far as providing for a liability is concerned, the audit fee and the service tax thereon stand at par.
18 July 2008
Dear Sir,
TDS is to be deducted on the above provision
Regards
Ravi Konda
TDS is to be deducted on the above provision
Regards
Ravi Konda
22 August 2008
Yes. TDS needs to be deducted.
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