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service tax accounting

Others 1665 views 3 replies

Hi,

 

Service tax liability is only when received. So how to keep a track in accounting to ensure that service tax billed out is received.

 

 

 

Replies (3)
There are accounting softwares taking care of this problem now a days. for eg. Tally. How ever, I would suggest to prepare two registers independent of accounting entries. 1. Bill Register and 2. Receipt register till you find a reliable solution through accounting entries.
In addition to a bill book maintain a numbered reciept book also(i.e. give reciepts to the parties/clients when they make payment) ........ service tax liability can be ascertained from it
Please send me the above to utiganesh @ gmail.com


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