Service tax
This query is : Resolved
07 December 2014
Sir,
A firm had issued an invoice against the service we purchased on hire by the end of the month. That service includes Service Tax and while making the payment TDS we deduct and pay the remaining balance.
Now my question is i raised the same invoice in tally under Purchases Account. In the same invoice can i show the TDS also to arrive at the exact value of payment to be made using F5. I tried to do that but TDS was not properly been auto calulated. can any one of you advise me?.
In the above issue is it right to raise the inovice under purchases or can we raise a voucher by F7 (journal).
A firm had issued an invoice against the service we purchased on hire by the end of the month. That service includes Service Tax and while making the payment TDS we deduct and pay the remaining balance.
Now my question is i raised the same invoice in tally under Purchases Account. In the same invoice can i show the TDS also to arrive at the exact value of payment to be made using F5. I tried to do that but TDS was not properly been auto calulated. can any one of you advise me?.
In the above issue is it right to raise the inovice under purchases or can we raise a voucher by F7 (journal).
08 December 2014
You should use the Journal voucher to record the expense.
That will enable you to avail CENVAT credit of service tax & also compute TDS automatically.
That will enable you to avail CENVAT credit of service tax & also compute TDS automatically.
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Nursery business
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
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
