31 August 2007
I have one bill of Supply,Installation and commissioning of Elevators/Escalators bill amount is. Material Amount 793608.44 Installa.& Commissioning Charges 140048.55 Total = 933656.99 Add Service Tax @ 12% = 16805.83 Add Edcuation @ 2% = 336.12 Add Higher Education = 168.06 Add VAT on 793608.44 @ 12.5% = 99201.06
Total Bill Amount = 1050168.06 I Enter This bill in my Account as Dr P & M 933656.99+99201.06=1032858.05/- Dr Service Tax 16805.83 Dr E.Cess= 336.12 & Dr H.E.Cess 168.06 Cr Supplier 1046926.06 Cr Tds (157358.56 @ 2.06%)= 3242/- ( Tds On Installation+Service Tax Amount) I want to know that this is right entry or tds deducted on bill amount or Service Amount Pleas Clear this entry and tds amount.
CAclubindia
