hey, During my audit i came across 4 A/c in my client's Tally system i.e
1. Service tax (paid/credit) A/c
2.Service tax payable Expense A/c
3.Service tax payable A/c
4.Service tax A/c
Can any1 plz explain to me what is recorded in each of these accounts,
also mention the way of accounting the same.
And when (which cases) should service tax be reversed ?
Thank you
1. service tax paid :- its a service tax input account (service tax paid to provide taxable service)
2. service tax expenses ;- i don't think ledger name is appropriate. it may be service tax output which is collected from service recipient
3. finally service tax payable : adjustment of input output to ascertain the final liability
hey,
i dnt kno whethr it is appropriate or nt...bt thanks ..hop others reply...
i guess i hav eanswered this !.. 
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