SERVICE TAX
This query is : Resolved
Rajasekaran.K
(Querist)
21 June 2008
Hi my friends,
pls answer my following queries:
a) Wat is the accounting entry for taking C
ENVAT credit?
b) how will you account for adjustment made with respect to that credit?
c) Similarly how will you determine TDS receivable/payable at the end of the finanacial year?
Well i am doing my CS ... if you can clarify me on these aspects it d be better
pls answer my following queries:
a) Wat is the accounting entry for taking C
ENVAT credit?
b) how will you account for adjustment made with respect to that credit?
c) Similarly how will you determine TDS receivable/payable at the end of the finanacial year?
Well i am doing my CS ... if you can clarify me on these aspects it d be better
23 June 2008
Accounting for Cenvat will be
Cenvat receivable A/c Dr
purchase/fixed assets A/c Dr
To Party
When u sale the goods
Party Dr
To sales
To Excice duty
End of the month
Excise Duty Dr
To Cenvat Receivable
To cash/ bank
TDS Receivable is based on TDS certificate u r having.
Cenvat receivable A/c Dr
purchase/fixed assets A/c Dr
To Party
When u sale the goods
Party Dr
To sales
To Excice duty
End of the month
Excise Duty Dr
To Cenvat Receivable
To cash/ bank
TDS Receivable is based on TDS certificate u r having.
Rajasekaran.K
(Querist)
27 June 2008
Thanks my friend.. further if you could clarify me on how to verify the TDS deducted on payments it would be better... coz i am now working with a chartered accountant
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