how will be the entry of service tax on freight?
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Answer Posted / sankar
Ex: Freight inwards Rs 10000 We will calculate service tax
10% on 2500 because 75% is abetment and 3% cess calculate
on service tax
Service tax - 250
Ed.cess - 5
Sh.Ed cess - 3
Total bill value is 10258
Entry is
Freight inwards a/c Dr 10000
Service tax a/c Dr 250
Ed.cess a/c Dr 5
Sh.Ed cess a/c Dr 3
to Party a/c 10258
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