Reversal entry of service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2012
Experts,
Pls. guide me how to pass reversal entry for service tax portion 75% % 25%. in the books of accounts with example?
Thanks & Regards,
Pramod
Pls. guide me how to pass reversal entry for service tax portion 75% % 25%. in the books of accounts with example?
Thanks & Regards,
Pramod
13 October 2012
Let us take an example
Basic charges - Rs. 10,000
Sevice tax (25%) Rs. 309
Total invoice value Rs. 10,309
At the time of booking the invoice
(assumed CENVAT credit cannot be claimed)
Expense A/c Dr 11,236
To Vendor 10,309
To Service Tax Liability 927
Reversal Entry:
Service tax liability A/c Dr 927
To Expense A/c
Basic charges - Rs. 10,000
Sevice tax (25%) Rs. 309
Total invoice value Rs. 10,309
At the time of booking the invoice
(assumed CENVAT credit cannot be claimed)
Expense A/c Dr 11,236
To Vendor 10,309
To Service Tax Liability 927
Reversal Entry:
Service tax liability A/c Dr 927
To Expense A/c
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 October 2012
Thanks a lot sir.
Regards,
Pramod
Regards,
Pramod
13 October 2012
You are welcome. You should use the thanks button to convey your thanks.
13 October 2012
You are welcome. You should use the thanks button to convey your thanks.
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