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sales - debtors dr 224.72 to sales 200 to ser tax 12% rec 24.00 ; to edu cess2% - .60 ; to ecu cess- 1% - .12
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sales receipts bank dr - 224.72 to debtors Rs 224.72
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servtax payable - ser tax 12% rec - 24 dr ; edu cess 2% - .60 dr ; educ cess 1% - .12 dr
to ser tax12% payabl- 24 ; to edu cess 2% paya - .60 ; to educ cess-1% paya - 0.60
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on payment - serv12% payable dr - 12 , educ cess -2% - .60 and Edu cess 1% payable dr - .12
to bank - 24.72
if cenvat credit availed and utilised
if cenvat credit availed on expenses - Rs 100
expenses dr 100 ; st 12%availed dr 12, ed2% availed dr.- 0.3, ed 1% availed dr.- .06
to bank - 112.36
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cenvat utilised and paid :
on payment - serv12% payable dr - 12 , educ cess -2% - .30 and Edu cess 1% payable dr - .06,
to ST-12% availed - ; to Ed cess 2% availed - ; to Ed cess 1% availed - To bank - 12.36
(24.72 STpayable - 12.36 Cenvat STavailed = STpaid Rs 12.36)
Originally posted by :Guest
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CAclubindia
