St on rcm

This query is : Resolved

samiksha nagar (Querist)
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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

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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

samiksha nagar

samiksha nagar (Querist)
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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?