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Service tax

Trupti Joshi (Accountant) (61 Points)

08 November 2016  
Hello Sir/ Mam How can we do adjustment entries for input credit in service tax for april. there is no opening balance We have input service tax 66132.48 Krishikalyan Dr. Rs.5876.96 Output service tax Rs. 31594.14 & swaccha bharat cess Rs1664.50

 3 Replies

CA VIRAL SANGHVI (Finance head) (681 Points)
Replied 08 November 2016

Hi,

You can create the SERVICE TAX ACCOUNT AND FINAL KRISHI KALYAN CESS

Transfer the Input service tax entry in service tax account by passing the following journal entry

SERVICE TAX ACCOUNT DR..66132.48

FINAL KRISHI KALYAN CESS DR.5876.96

 TO INPUT SERVICE TAX 66132.48

 TO  KRISHI KALYAN CESS 5876.96

 

and transfer output service tax entry in service tax account by passing following journal entry

 

OUTPUT SERVICE TAX A/C DR..31594.14

TO SERVICE TAX A/C  31594.14

in case of output swachh bharat cess you have to pay it,no cenvat credit is available on this.

So service tax account reflecting 34538.34 dr receivable

you have to pay swachh bharat cess Rs.1664.5

 

Trupti Joshi (Accountant) (61 Points)
Replied 08 November 2016

THANK YOU SO MUCH SIR

 

Trupti Joshi (Accountant) (61 Points)
Replied 08 November 2016

BUT WHAT ABOUT SWACCH BHARAT CESS & IF THERE IS OUTPUT KKC ?


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