Service tax calculation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 June 2012 Sir/Madam,

I have a doubt in calculating service tax in tally.
That is,
As a professional CA, if i receive a bill from a bank for conducting concurrent audit.

They will pay after deducting the TDS amt for the same.
What entries should be made for this case.
For ex:
Bill raised by CA

Audit fee : 15000
Service tax : 1854(12.36%)

therefore, the banker will pay following:

Audit fee : 15000
ST : 1854
Total : 16854
Less: TDS : 1685
Bill Amt: 15169(receivable by CA )

Please help me to provide the calculation in tally.
Also tell the entries to be made for this case.

Thanking you.
My Email: 1111sathish.ca@gmail.com

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

05 June 2012 XYZ Bank Ltd A/c Dr 16,854
To Audit Fees 15,000
To Service Tax Payable 1,854

Bank A/c Dr 15,169
TDS Receivable A/c Dr 1,685
To XYZ Bank Ltd. 16,854

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