Service tax is treated as an asset or liability when it comes on the debit side of the ledger account
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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.
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