Accounting entries for reverse charge mechanism

service provider A/c         Dr     106800     

Input service tax A/c        Dr      14000

      To  Bank A/c                                         120000

Thanks & Regard 

Vineet Kumar

E-mail Vineet.singh @ kppmca.in

Dear Vijay

Then how Cenvat Credit Receivable will be square up. It is not a asset.Simply you have paid ST and taken Credit the same.

Am I write.

Pls advice

Jayanta

Dear Mr. Vineet Kumar

Then how the service provider account square up ? They will not give any payment.

Pls advice.

Regards

Jayanta