We are Private limited company. Director has booked airlines tickets from company account which we have canelled. While booking tickets we have booked service tax also. Now if we cancelled these tickets how to deal with service tax portion? How to book cancellation transaction? Should i show any loss in respect of cancellation fees?
Example:-
Ticket Amt:- 10000
St Portion: Say 1000
Cancelled Amt Received: - Total 9000
Entry for Expenses:-
Travelling Dr. 10000
CENVAT credit Dr. 1000
to Bank - 11000
Ticket Cancellation:-
Bank Dr. 9000
to CEnVAt credit Dr. 1000
to Travelling 9000
Otherwise Give me Numerical Figures, I Will Let You Know relevane Entries.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
