Tax treatment of Courier & Frieght service
This query is : Resolved
ARVIND RAJAN
(Querist)
22 December 2010
Hi Everyone
Can anybody explain if we send material through Courier company and courier company charge service tax on full bill amount .My question is
(a) Can we take service tax recoverable on full amount that charge by service tax company or as per freight 75:25ratio
(b) wt is accounting treatment of this case
Arvind
Can anybody explain if we send material through Courier company and courier company charge service tax on full bill amount .My question is
(a) Can we take service tax recoverable on full amount that charge by service tax company or as per freight 75:25ratio
(b) wt is accounting treatment of this case
Arvind
CA.RAJIV SHUKLA FCA
(Expert)
22 December 2010
Dear Arvind,
If separate heads of account is maintanied you can calim Cenvat of the Service Tax paid on Courier Bills.
Accounting treatment is as under
1-Pass journal Entry as Service Tax Paid on Courier Charges Dr. & Cr. to the party
2-Service tax Payable Dr. & Cr. Service Tax Paid on Courier Charges
If separate heads of account is maintanied you can calim Cenvat of the Service Tax paid on Courier Bills.
Accounting treatment is as under
1-Pass journal Entry as Service Tax Paid on Courier Charges Dr. & Cr. to the party
2-Service tax Payable Dr. & Cr. Service Tax Paid on Courier Charges
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