St on rcm
This query is : Resolved
samiksha nagar
(Querist)
11 March 2014
Service receiver is a corporate entity receiving Manpower supply services from non corporate entity following are the transactions details: Security charges: Rs.11500 25% ST : Rs. 355.35 Total Bill amount : Rs. 11855.35 75% st : Rs. 1066.05 (st paid by Service receiver) i wish to know accounting entries for the above transaction. Also manner in which ST-3 return to be filled. Please give your suggestions
11 March 2014
1. Recording of invoice
Security Expense A/c Dr 11,500
CENVAT Receivable A/c Dr 355.35
To Vendor 11,855.35
2. Recording service tax liability
CENVAT Receivable Deferred A/c Dr 1,066.05
To Service Tax Payable 1,066.05
3. Payment
Service Tax Payable A/c Dr
To Bank
4. Availing CENVAT Credit
CENVAT Receivable A/c Dr 1,066.05
To CENVAT Receivable Deferred A/c 1,066.05
Security Expense A/c Dr 11,500
CENVAT Receivable A/c Dr 355.35
To Vendor 11,855.35
2. Recording service tax liability
CENVAT Receivable Deferred A/c Dr 1,066.05
To Service Tax Payable 1,066.05
3. Payment
Service Tax Payable A/c Dr
To Bank
4. Availing CENVAT Credit
CENVAT Receivable A/c Dr 1,066.05
To CENVAT Receivable Deferred A/c 1,066.05
samiksha nagar
(Querist)
12 March 2014
Siddharth sir, it mean that we can take cenvat credit of both 25% amount (355.35) & 75% amount (1066.05). Firstly we are paying st of Rs. 1066.05 & then taking its CCR. How this receipts, CCR & st paid amount will be entered in ST-3 return?
25 July 2025
https://docs.google.com/document/d/1WPvEVJVNKJvCN8q1SCxBUzIbpMOWrevttxm2Eo5V9oU/edit?usp=sharing
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