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.
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- TAN for Partnership
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- STCG FOR GOLD ETFs
- Last year TDS Claim
- E way bill for tractors
- Free lancer income
- Long Term Service award taxability in hands of company
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
