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Provision Entry of Bills Containing Service Tax

This query is : Resolved 
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(Querist)
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
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
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.
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Ravi Kiran

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Ravi Kiran (Querist)
18 July 2008 Dear Sir,

TDS is to be deducted on the above provision

Regards

Ravi Konda
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Shyam Lal Naik

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Shyam Lal Naik (Expert)
22 August 2008 Yes. TDS needs to be deducted.
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