banner_ad

Service tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
23 March 2016 A ltd consultancy company raises the bill on b ltd rs, 100000 @14.5 % sevice tax what will be the journal entry in books of A ltd and also in B ltd
Profile Image

Suresh Ramaswamy

Profile Image

Suresh Ramaswamy (Expert)
24 March 2016 In the books of A Ltd:

(1) On rendering of Service
B Ltd Dr 1,14,500
To Service (specify) 1,00,000
To Service Tax Payable 14,000
To SB Cess 500

(2) On payment of Service Tax
Service Tax Payable Dr 14,000
S.B.Cess Dr. 500
to Bank 14,500

In the Books of B Ltd
(1) On receipt of services
Services Received Dr 1,00,000
Service Tax Input Dr 14,000
SB Cess Dr 500
To A Ltd 1,14,500

(2) On payment to A Ltd.
A Ltd. Dr. 1,14,500
To bank 1,14,500

(3) Adjustment of Input
Service Tax Input Receivable Dr 14,000
To Service Tax Input 14,000

(4) Adjustment of SB Cess
Profit & Loss Account Dr. 500
To S.B.Cess 500
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details