Service tax entry
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2014
Dear Sir,
I am receiving a security service on the end after passing entry i find some Balance in Service Tax Deferred Input A/c and Service Tax Input Credit A/c.
what the balance transferred entry to be passed at the end of F.Y.
It can transferred to P & L A/c ?
Please tell in detail
I am receiving a security service on the end after passing entry i find some Balance in Service Tax Deferred Input A/c and Service Tax Input Credit A/c.
what the balance transferred entry to be passed at the end of F.Y.
It can transferred to P & L A/c ?
Please tell in detail
27 October 2014
Service tax deferred input balance should equal to your service tax amount payable as reverse charge
.
.
once u made payment,,defered input will be transfered to service tax input
.
.
and ofcourse rcm service tax payable account will get reduced by bank payment
.
.
so nothing will come to profit and loss statement
.
.
once u made payment,,defered input will be transfered to service tax input
.
.
and ofcourse rcm service tax payable account will get reduced by bank payment
.
.
so nothing will come to profit and loss statement
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