Query
This query is : Resolved
27 December 2010
we have service tax payble-20000, cenvat credit-5000, service tex received-25000. what is the accounting entry?
entry passed by me-
Service tax payable a/c ---Dr. 20000
To service tax receivable A/c 15000
To cenvat Credit a/c 5000
Please correct my mistake.........
entry passed by me-
Service tax payable a/c ---Dr. 20000
To service tax receivable A/c 15000
To cenvat Credit a/c 5000
Please correct my mistake.........
27 December 2010
Dr: Service tax payable
Cr: Cenvat- Service tax ( receivable)
Cr: Bank ( Balance payable)
Dr: Service tax payable
Cr: Cenvat- Service tax ( receivable)
Cr: Bank ( Balance payable)
27 December 2010
But sir in this particular case service tax receivable and balance of cenvat credit amount is more than service tax payble. Then why payment from bank?
28 December 2010
If the receivable is more than payable, then bank will not come only
Dr: Service tax payablr
Cr: Cenvat- Service tax
you entry is correct
Dr: Service tax payablr
Cr: Cenvat- Service tax
you entry is correct
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