If ABC security service provider monthly bill for the month
of Jan is Rs.2,00,000/- including TDS 2% and Service Tax
12%, Edu.Cess 2% and SHE Cess 1% what is the journal entry.
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Answer / ziya anjum
there will be only one entry
that is
ABC secu.ser A/c ---Dr 170000
Service Tax A/c ---Dr 24000
Education Cs A/c ---Dr 4000
She Cess A/c ---Dr 2000
To TDS Payable A/c ---Cr 4000
To Bank/Cash A/c ---cr 196000
OR
1st Entry should be
Security Service charges A/c ---Dr 194000
Education cess A/c ---Dr 4000
She Cess A/c ---Dr 2000
To TDS Payable A/c ---Cr 4000
To ABC Security Serv ---Cr 196000
2nd Entry should be
ABC Sec.Ser A/c ---Dr 196000
TDS Payable A/c ---Dr 4000
To Bank/Cash ---Cr 200000
plz correct me if i wrong.
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / pothuraju
ABC secu.ser A/c ---Dr 174886
Service Tax A/c ---Dr 20986.3
Cess A/c ---Dr 630
To TDS Payable A/c ---Cr 3497.726
To Bank/Cash A/c ---cr 93004
How service provider will deduct TDS?
plz correct me if i wrong.
(here partial payment under service tax also applicable ser provider 25%,
Ser receiver 75%)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / muna
1st entry:
ABC Security Rs.2,24,720/ Dr.
To Service Tax Rs.24,000 Cr.
To Security Service Rs.200000/-Cr.
To Edu. cess Rs.480/-Cr.
To SHEC Rs.240/-Cr.
2nd entry:
TDS Recoverable Rs.4000/- Dr.
Cash /Bank Rs.220720/- Dr.
To ABC Security Rs.2,24,720/- Cr.
| Is This Answer Correct ? | 3 Yes | 7 No |
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