Hi Friends,
How will we treat "Input service Tax" in Balance sheet?
Menu
input Service Tax
Replies (3)
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
Recent Topic
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
- Internal reconstuction
- IDS Refund – Annexure B & GSTR-3B Match,
- Can i should STCG and LTCG as business income ?
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
Related Topics
CAclubindia
