Service Tax Receivable
This query is : Resolved
07 July 2008
Dear sir,
While making payment to BSNL.We will make entry as follow:
Telephone expenses ac ----Dr.
Service Tax rece ac ------Dr.
To Cash / bank ac.
But this Service Tax Reced Ac will show Debit balance.What will be the next accounting entry & Taxation provision.
Plz tell help me.
While making payment to BSNL.We will make entry as follow:
Telephone expenses ac ----Dr.
Service Tax rece ac ------Dr.
To Cash / bank ac.
But this Service Tax Reced Ac will show Debit balance.What will be the next accounting entry & Taxation provision.
Plz tell help me.
07 July 2008
If you are utilising servicetax for Cenvat,
Cenvat utilisation account Dr
To Service tax recoverable
If you are not utilising, Then,
Service tax a/c dr
To servicetax recoverable
Cenvat utilisation account Dr
To Service tax recoverable
If you are not utilising, Then,
Service tax a/c dr
To servicetax recoverable
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