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Taxation Accounting

This query is : Resolved 
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(Querist)
03 April 2010
Dear Sir

My company is not taking credit of service tax payment on any services , can I book the tax as expense.

Eg: Total rent payment Rs 1 Lac(Including ST Rs.10000), is following entry currect

Rent A/c Dr. 100000
To TDS 10000
Party 90000
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CA Ashok Kumar Sahu

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CA Ashok Kumar Sahu (Expert)
03 April 2010 yes, entry is correct,

but in the case of Rent TDS is deductible only on Rent Amt. and not on service tax portion.

hence deduct TDS Rs. 9000/- on rent
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
03 April 2010 yes.if you are not taking credit you can book total as expenes and for Rent tds can be deducted with out including ST
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kartik_somu

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kartik_somu (Expert)
04 April 2010 agree with experts
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
04 April 2010 Agree
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