Tds and service tax
Querist : Anonymous
As the year end is there, how can I make a provision in books for specific expenses if the Service tax and TDS matter is there.
e.g.
Service Bill 100000
Service Tax 12360
TDS 10%
what entry should I post for provision??
if u dont get
expense a.c dr 112360
to tds payable 10000
to party 102360
Exp Dr. 100000
Service Tax receivable Dr. 12360
To TDS 10000
To Party 102360
Querist : Anonymous
but the cenvat credit rules says the credit is only available at the time of Payment of service tax
Also, is it necessary at year end to take a provision of service tax receivable
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