Service tax
Querist : Anonymous
Querist : Anonymous
Suppose X (the Contractor)submit a bill to SAIL (Gross bill Rs.100000/-+ Service tax Rs.12360/-) Total Rs.112360/- what will be the entry?
and Y (The sub contractor) submit a bill to X Total Rs.56180/-(Gross Bill Rs.50000/- + Service Tax Rs.6180/-)What will be the entry?
Both entry should be In the books of X.
sail a/c dr 112360
to gross work done 100000
to service tax 12360
gross work done 500000
service tax input 3090
service tax input
reverse charge 3090
to y 53090
to service tax reverse
charge payable 3090
Assuming reverse charge applicable.
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