Query regarding purchase entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2014
Hi,
I have a query regarding purchase entry for purchase of services. We Buy Services which has 12.36% Service tax and sells the same and take input credit while paying service tax.
The Typical Purchase invoice is like this:
amount: 10000/-
Service Tax : 1236/-
Total: 11236/-
So my purchase will be 11236 or 10000? Also can somebody give a sample entry for the same?
I have a query regarding purchase entry for purchase of services. We Buy Services which has 12.36% Service tax and sells the same and take input credit while paying service tax.
The Typical Purchase invoice is like this:
amount: 10000/-
Service Tax : 1236/-
Total: 11236/-
So my purchase will be 11236 or 10000? Also can somebody give a sample entry for the same?
12 August 2014
Purchase Dr.......................10000
Service tax input Dr..............1236
To vendor..............................11236
Service tax input Dr..............1236
To vendor..............................11236
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