Tell me correct Journal Entry-

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(Querist)
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.........
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
27 December 2010 Please mention in this what is service tax receivable and Cenvat credit?
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
27 December 2010 Normal entry will be

Dr: Service tax payable
Cr: Cenvat receivable ( service tax receivable)
Cr:Bank a/c ( Balance ST payable)
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Jyoti

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Jyoti (Querist)
28 December 2010 Thanks U very much sir for guiding me correct.
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