Service tax is treated as an asset or liability when it comes on the debit side of the ledger account
Menu
Treatment of service tax
Replies (3)
If service tax comes on debit side of ledger a/c - Input s.t - treated as Asset
If service tax comes on credit side of ledger a/c-Output s.t-treated as Liability
Answer of Ravi is correct. Write me any query related to Service Tax. my email id is sachinagarwalcallb @ gmail.com
Hi Sahin and Ravi. Thanks for your reply and help. I am trying to clear some of my concepts and get more clarity on the same. While searching and visiting various sites I have come across https://www.simple-abc.com\. Here the accounting concepts are explained in a simple manner.
Recent Topic
- Form 16 Includes Salary Recovered Towards Notice P
- Altera INTC
- Itr schema a.y 26-27 v/s form no.16
- Advance Tax for senior citizen with small speculat
- Zero income tax on Capital Gain on sale of house p
- Rental income calculation for 12months
- PF Withdrawal before completing 5 years
- Discrepancy in "Processed By Source" and
- Dilemma of Indian Dependant Housewives
- TDS console file not open in RPU 1.1
Related Topics
CAclubindia
