Rcm on man power supply
This query is : Resolved
19 August 2015
Hi the man power supply agency has given a bill for 21000/-, and the tds is being deducted at 2% & paid to them.
my question is what about rcm? how exactly we have to pass entry for the bill?
19 August 2015
You have to pay service tax under RCM at 14% on 21000 if you are a company.
Man power supply expenses Dr 21000+ 14% service tax
To TDS Cr 420
To service tax payable under RCM Cr 2940
To bank Cr 20580
Man power supply expenses Dr 21000+ 14% service tax
To TDS Cr 420
To service tax payable under RCM Cr 2940
To bank Cr 20580
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