input Service Tax

Input service tax will be shown as current asset in the balance sheet.

Eg:- Suppose Mr A. Provide professional service to Mr.B.

Please let me know what will be the entry for this if 'Input service tax' is entered

In the Books of B

Expense dr

 service Tax Receivable DR

Education Cess  on service tax Receivable DR

  Secondary education cess  on service tax Receivable dr

To Creditor

on setting off  Output Service i.e on availing cenvat

Dr Excise Duty/Service Tax Paid

To service Tax Receivable

To Education cess on Service Tax Receivable

To Secondary cess on service Tax Receivable