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Accounting under reverse charge mechanism

CA Gaurav Ajit Potdar (Chartered Accountant) (845 Points)

08 June 2013  

1 of our client receive security service which is covered under reverse charge machanism the billing of which is as under

Security Service                             Rs 100.00 

ST                                                           3.09

ST to be born by Service receiver           9.27

Total bill Amt Payable                         103.09

now how will we account the same what is the amt of expenditure that will be shown in the p&l is it 103.09 or 112.36. we donot take ST credit. At what amt TDS is to be deducted on 103.09 or 112.36
 


 2 Replies

Nirav Worah (CHARTERED ACCOUNTANT) (396 Points)
Replied 09 June 2013

Expenditure of Rs 112.36 to be booked and tds to be deducted on 103.09

A.JAGADEEP (ARTICLE STUDENT) (151 Points)
Replied 10 August 2013

But what about, if ET credit is taken?


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