There is a Service Bill of Rs.50,000 & Service Tax added 10.30% & We h

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?

Question Posted / nagchandr9

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There is a Service Bill of Rs.50,000 & Service Tax added 10.30% & We have to deduct TDS @ ..

Answer / nitin lunawat

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 ?

7 Yes

8 No

There is a Service Bill of Rs.50,000 & Service Tax added 10.30% & We have to deduct TDS @ ..

Answer / ranjit yadav

Entry
Expense a/c Dr 50000
Service Tax Input a/c Dr 5150

To Service Tax Payable a/c 5150
To Tds a/c 1103
To Party a/c 48897

Is This Answer Correct ?

0 Yes

1 No

There is a Service Bill of Rs.50,000 & Service Tax added 10.30% & We have to deduct TDS @ ..

Answer / vicky raj

By Expense A/c Dr 55150

To party/Bank A/c Cr 49000
To Cenvat A/c Cr 5150
To Tds Payble A/c Cr 1000

(Being servicetax Input Taken (10.3%)& tds deducte 2%)

Is This Answer Correct ?

4 Yes

9 No

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