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?
Answer Posted / 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 |
Post New Answer View All Answers
due date for issue of C form, if c form is not issue what will be the consequences
I have some queries about Service Tax, I am working in a Insurance Broking Company. 1) We have raised one bill on 25.04.09 for the services provided by us in the month Mar, 09 Now We received the chq on May, 09 followed in the Month of June,09. When the service tax is actually payable in the month of received of Service tax amount or in the month of services actually provided by us (Mar09) 2) Can we take 100% credit of Service Tax Input paid to those who provided services to us. Suppose Service Tax payable is Rs. 100/- and Service tax charged by the other firms/company Rs. 80/-. The question is That can we deduct Rs. 80/- (already paid). Now Net ST payable would be Rs. 20/- or other percent of service tax input is available 3) What is the rate of interest for Service tax if not paid on time. Pls help me out asap
WHAT IS THE PORVISION OF INCOME TAX & SELF ASSESSMENT TAX AFTER AUDIT IN PVT LTD CO & LTD CO , PLEASE GIEVE ANSWER IN DETAIL WITH ENTERY TO MY E-MAIL ADDRESSS
what is form requirment for monthly, quartely, and yearly sale return for haryana
Define the term person?
if a item sale on cash bill which is under vat sechdule c local sale tax is 5% so what is the rate of CST without C Form
what data require for liability calculation under work contract tax composition scheme and regular method.
what is the difference between vat return and return for remittance on value added tax.
IF I RECD ANY BILL TOWARDS PRINTING OF FORMS, VOUCHERS AND ON SAME VAT IS CHARGED 5%, IS TDS IS ALSO APPLICABLE FOR THE SAME.
I have working with Rs.180000/- I want fill up itr 1st time What is process.
how many sale tax charged on the billing for central dealer by uttar pradesh dealer at furniture items ? & how many sale tax charged for u.p. dealer by up dealer ?
how we calculate the tds on salary.
how we issue the road permit to seller for receiving the rearing material
WHAT IS EXCISE DUTY RATE IN HARYANA for RMC
if i paid interest on tds for ex:- tds deducted on rent for the month of april, may, june rs. 20000 each for month and tds paid on 7th july then i have to pay interest @ 1.5% for rs. 1200 , 900 , 600 respectively , so i wanted to know what is the entry for rising of this interest in accounting software other than tally