Tell me correct Journal Entry-
This query is : Resolved
27 December 2010
we have service tax payble-20000, cenvat credit-5000, service tex received-25000. what is the accounting entry?
entry passed by me-
Service tax payable a/c ---Dr. 20000
To service tax receivable A/c 15000
To cenvat Credit a/c 5000
Please correct my mistake.........
entry passed by me-
Service tax payable a/c ---Dr. 20000
To service tax receivable A/c 15000
To cenvat Credit a/c 5000
Please correct my mistake.........
27 December 2010
Please mention in this what is service tax receivable and Cenvat credit?
27 December 2010
Normal entry will be
Dr: Service tax payable
Cr: Cenvat receivable ( service tax receivable)
Cr:Bank a/c ( Balance ST payable)
Dr: Service tax payable
Cr: Cenvat receivable ( service tax receivable)
Cr:Bank a/c ( Balance ST payable)
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