Hello,
I want to know that as per Govt rules and regulation now,services tax is also charged on construction of residential house.So here is my question is that:-
Our company had received Rs.39,00,000(Thirty nine lakhs ) from customer till Dec-2012 for construction of flat.Service tax is charged only on 25% of the total amount received and 75% is abatement on construction of residential house. Service tax on Rs.39,00,000 is Rs.1,20,510. Our company deposited half of the amount Rs.60,255 with government in Jan 6,2014.
Then my question is that how to entry this in Tally which is the previous year(2012-13) due in 2013-14 year. Also I want to tell that service tax is calculated till Dec-2012 .
Please help me.
CAclubindia
