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Service taxPayment query

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 September 2010 Dear all
Pls tell me whether the rent is paid Rs.68000/- in that we have to give the service tax extra in this transaction what should be the entry passed and the service rendered by us should be paid what should be contras for service tax entry, for example if we giving rent is Rs.50000/- and service tax is 5150/- and we giving service to the customers is Rs.100000/- and service tax is Rs.10300/-, what the exactly should be paid service tax and what the accounting entry for all these transactions.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
29 September 2010 paying of service tax extra depends, whether rent amount is inclsive or exclusive of service tax. If it is exclusive , you have to pay extra.

Book the service tax amount, as tax on input services, that you can adjust against service tax on output services.
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