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There is a Service Bill of Rs.50,000 & Service Tax added
10.30% & We have to deduct TDS @ 2%. Assume that Service
Tax Input Credit available to Ur Co. What is the Journal
Entry for this?
- 23 Answers
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Answer / satendra kumar paswan
Entry No. 1
Expenses A/c Dr 50000
Service Tax Payable A/c Dr 5150
To Party A/c 55150
(Being amt. of expenses vide bill no. ? )
Entry No. 2
Party A/c Dr 1103
To TDS Payble A/c 1103
(Being Tds @2% agst. bill no. ?)
Entry No. 3 for Service Tax Input Credit
Servic Tx Input A/c Dr. 5150
To Service Tax Payable Cr. 5150
(Being Service Tax Input Credit Utilised)
| Is This Answer Correct ? | 9 Yes | 9 No |
Answer / vaishali
1) at the time of booking Expense
Expense Ac.................... Dr 50000
Service tax Receivable Account Dr 5150
To Party Account Cr 55150.
At the Time of Payment of creditor &
Party Ac............... Dr 55150
To Bank cr.................54047
To TDS on prof fees cr.........1103
Service tax Payable............. Dr 5150
To Service tax Receivable ... 5150.
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / s. k. patel
Expence A/C Dr. Rs. 50000/-
Service Tax Cenvatable A/C Dr. Rs. 5150/-
Service Provider A/c Dr. Rs. 1103/-
To, Service Provider A/c RS. 55150/-
To, Tds Payable A/c Rs. 1103/-
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rohit kumar rai
1. IN THE BOOK OF PERSON WHO RECEIVE SERVICE.
a) AT THE TIME OF BOOKING:-
expence a/c dr-50,000
to tds a/c 1000
to party name 49000
b)AT THE TIME OF PAYMENT :-
TDS A/C DR 1000
TO BANK 1000
PARTY A/C DR 49000
TO BANK A/C 49000.
2) IN THE BOOK OF PERSON WHO PAID SERVICE TAX TO GOV.
1) at the time of booking Expense
Expense Ac Dr 50000
Service tax Receivable Account Dr 5150
To Party Account Cr 55150.
At the Time of Payment.
Party Ac Dr 55150
To Bank 55150
At the End of Month when Service tax Paid
Service tax Payable Dr 5150
To Service tax Receivable 5150.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / sunil kumar
If Service Tax Included In Rs. 50,000/-
Expence A/C Dr. Rs. 45,331/-
Service Tax Cenvatable A/C Dr. Rs. 4,669/-
Creditor A/c Dr. Rs. 1,000/-
To, Creditor A/c RS. 50,000/-
To, Tds Payable A/c Rs. 1,000/-
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / awez ali
expenses a/c dr. 44499.82
service tax a/c dr. 5500.18
tds a/c cr.890.00
part a/c cr. 49110.00
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / anuj kumar
EXPENSES A/C DR 50000
SERVICE TAX INPUT A/C DR 5150
TO PARTY 54047
TO TDS 1103
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / sujit pandey
Expenses a/c dr - 50000
Service tax input dr-5150
To party a/c - 55150
At time of Tds
Party a/c dr -54150
tds input dr -1000
TO BANK A/C -55150
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ananta sahu
Professional Fees A/c Dr
Swachh Bharat cess expense A/c Dr
Cenvat on Service Tax A/c Dr
Cenvat on KCC A/c Dr
To TDS Payable A/c
To Party A/c
| Is This Answer Correct ? | 0 Yes | 0 No |
Expense A/c Dr 50000
Service Tax payble Dr 5150
To Tds Payble Cr 1103
To Party A/c Cr 54047
(being servicetax paid (10.3)& tds deducte 2%)
| Is This Answer Correct ? | 9 Yes | 10 No |
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