banner_ad

Query

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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.........
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
27 December 2010
Dr: Service tax payable
Cr: Cenvat- Service tax ( receivable)
Cr: Bank ( Balance payable)
Profile Image

Jyoti

Profile Image

Jyoti (Querist)
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?
Profile Image

CMA Ramesh Krishnan

Profile Image

CMA Ramesh Krishnan (Expert)
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
Profile Image

Jyoti

Profile Image

Jyoti (Querist)
28 December 2010 Thank u very much sir for guiding me correct.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details