Treatment of service tax

Queries 439 views 3 replies

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

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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