As a Manufacturer we are paying service Tax on Inwards freight
and the same amount we are taking as a credit against payment
of Excise duty. So,Pls clarify how to pass JV
Answer Posted / motilal
Freight A/c dr 1000.00
service tax liablity(GTA) dr--31.00
To Service tax payable(GTA)--31.00
to Transporter A/c. 1000.00
On payment of Service tax:-
Service tax payable A/c Dr 31.00
Service tax credit Taken Dr 31.00
to service tax liablity(GTA) 31.00
To BAnk A/c 31.00
Verma_moti@yahoo.co.in
Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What does an accurate trial balance suggest?
Explain me bills receivable?
List of Indian accounting standards and international financial reporting standards
when & how interest on unsecured loan is calculated?
Sir, we have investment shares some company how to calculate gain/loss please send format brefly fifo, lifo and average method
How is the accounting for lease transactions done?
how to calculate vat,pf,esi,service tax in corporate firm
What is the difference between General Ledger and Ledger?
What is a ledger in regards to accounting?
Were i have to enter for agreements in tally and in which ledger it will come
Explain what are the rules for debit and credit for different accounts to increase the amount in your business accounts?
what are the basic elements to prepare a quarterly information system and how to calculate that items?
What is the marginal cost formula?
What are the differences between accounting and auditing?
i am working in construction company.we have more then one projects.i enter attendance in payroll projectwise.i want salaries in projectwise not overall in payroll autofill. thankyou sir