Service tax journal entry on repair & maintenance
This query is : Resolved
Skyler Rocker
(Querist)
12 December 2015
Sir, Ex- ABC LTD. received a bill of Rs.114000/- on repair & maintenance services(include service tax) provided by BCL Ltd.
I want to know that what entry will make and it is take credit of input services if yes, why or no, why if any tds deducted on this plz explain me.
I want to know that what entry will make and it is take credit of input services if yes, why or no, why if any tds deducted on this plz explain me.
12 December 2015
1. Entry on receipt of invoice
Repair & maintenance Dr 1,00,000
ST - Input Dr 14,000
To BCL Ltd 1,14,000
2. Entry on payment of invoice
BCL LTD Dr 1,14,000
To Bank 1,12,000
" TDS 2,000
3. For remitting TDS
TDS Dr 2,000
To Bank 2,000
4. For availing CENVAT
Service tax Dr 14,000
To ST- Input 14,000
Repair & maintenance Dr 1,00,000
ST - Input Dr 14,000
To BCL Ltd 1,14,000
2. Entry on payment of invoice
BCL LTD Dr 1,14,000
To Bank 1,12,000
" TDS 2,000
3. For remitting TDS
TDS Dr 2,000
To Bank 2,000
4. For availing CENVAT
Service tax Dr 14,000
To ST- Input 14,000
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