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accounting entries
one of our clients daily passing the entry... .postage a/c dr.
to cash ....but forget to Dr. service tax....now he wants input credit...and passed the entry - service tax Dr. / To postage at the end of each month...but in my opinion it should be ser tax Dr. / To cash a/c...........pls let me know whether their entry is correct or mine..
Replies (1)
if entry for input service tax is passed at the time of paymnet, no doubt it should be
Exp. Dr.
Service tax Dr.
To Cash .
but, as u mentioned that at the time of payment, entry is passed just Exp - dr., to cash; then at the end of month the amount of serivce tax debited to exp. account shall be debited to service tax and credited to exp. a/c.
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