Service tax to be paid

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Accounting and taxation outsou
275 Points Posted on 23 July 2007

Hi My client is an advertising agency.They a raise abill as under


Gross amount 1000


Service tax      18.6


However service receiver while paying pay less amount and according pay the service tax as under


Goss amount  900


Service tax    16.74.


 


Hence in the above case what amount of service tax should my clien pay and what record he needs to maintain.


 


 

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On 23 July 2007 at 08:27 Report
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Chartered Accountant
50 Points Posted on 23 July 2007
Service tax is calculated on the basis of amount received. Therefore you pay service tax for the amount received i.e Rs.900 & Service tax amount Rs.16.4.
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On 23 July 2007 at 09:20
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Accounting and taxation outsou
275 Points Posted on 23 July 2007
how to keep a track of service tax billed and collected in accounting in the above scenario
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On 23 July 2007 at 11:32
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Chartered Accountant
50 Points Posted on 25 July 2007
Difference Amount Tfr to Discount Account (i.e Service tax Billed - Service Tax Collected)
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On 25 July 2007 at 07:47

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