Answer Posted / k r jaya kumar
The service provider is liable to register under Service
Tax Rules and collect service tax at the presribed rates
from the customers by billing to the customer for the
service rendered. The service tax collected to be deposited
with Govt.(Service Tax Dept.) on a quaterly basis or
monthly basis depends on the constitution of the
firm/company.
Accounting treatment is value of service as per invoice is
to be credited to respective revenue account and service
tax as per invoice also has to be credited to service tax
payable account and corresponding debit has to be given to
Cash/Party account(if credit).
On payment of service tax , service tax payable account is
to be debited and cash to be credited.
Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
What is wma and what does it signifies?
How is SLR determined? What is the Need of SLR?
Give Any Three Advantages of Joint Stock Company?
Explain working capital turnover ratio. What does it indicate?
Explain balanced capitalization.
Do you know the concept of Bulls and Bears?
What is online banking?
Explain About The Super Administrator?
yes any body is there for my question plz help me. what is meant by capital market? plz give me ans in the form of concept,aspects of business,object etc.
Which bank comes under the category of apex banks.
What is statutory liquidity ratio (slr)?
Give few ways of 'money laundering'?
Are You Able To Work In A Computerized Environment And Spend Long Hours At The Computer?
What are the components of the monetary policy of rbi?
Dear sir, please send me previos papers of rbi THANKS