Service tax entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 May 2015
what entry to be done .....
we are a educational company and received a invoice from a company like this
service charges ===100000/-
service tax ===12360/-
total amount 1,12,360/-
We take service tax credit than what entry we have to put and tally and what amount we pay to party ////
we are a educational company and received a invoice from a company like this
service charges ===100000/-
service tax ===12360/-
total amount 1,12,360/-
We take service tax credit than what entry we have to put and tally and what amount we pay to party ////
27 May 2015
1) Considering TDS not applicable...
Service Charges(Expense Head) Dr Rs 100000
Service Tax Input Credit A/c Dr Rs 12360
To Party A/c... Rs 112360
2) Considering TDS applicable 10%...
Service Charges(Expense Head) Dr Rs 100000
Service Tax Input Credit A/c Dr Rs 12360
To TDS Payable A/c Rs 10000
To Party A/c... Rs 102360
(Remember TDS is not deducted on Service Tax Amount)
At the time of payment...
Party A/c Dr
T Bank A/c...
TDS Payable A/c Dr...
To Bank A/c...
Service Charges(Expense Head) Dr Rs 100000
Service Tax Input Credit A/c Dr Rs 12360
To Party A/c... Rs 112360
2) Considering TDS applicable 10%...
Service Charges(Expense Head) Dr Rs 100000
Service Tax Input Credit A/c Dr Rs 12360
To TDS Payable A/c Rs 10000
To Party A/c... Rs 102360
(Remember TDS is not deducted on Service Tax Amount)
At the time of payment...
Party A/c Dr
T Bank A/c...
TDS Payable A/c Dr...
To Bank A/c...
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