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?
Answers were Sorted based on User's Feedback
Answer / satendra kumar paswan
Entry No. 1
Expenses A/c Dr 50000
Service Tax Payable A/c Dr 5150
To Party A/c 55150
(Being amt. of expenses vide bill no. ? )
Entry No. 2
Party A/c Dr 1103
To TDS Payble A/c 1103
(Being Tds @2% agst. bill no. ?)
Entry No. 3 for Service Tax Input Credit
Servic Tx Input A/c Dr. 5150
To Service Tax Payable Cr. 5150
(Being Service Tax Input Credit Utilised)
Is This Answer Correct ? | 9 Yes | 9 No |
Answer / vaishali
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 of creditor &
Party Ac............... Dr 55150
To Bank cr.................54047
To TDS on prof fees cr.........1103
Service tax Payable............. Dr 5150
To Service tax Receivable ... 5150.
Is This Answer Correct ? | 3 Yes | 3 No |
Answer / s. k. patel
Expence A/C Dr. Rs. 50000/-
Service Tax Cenvatable A/C Dr. Rs. 5150/-
Service Provider A/c Dr. Rs. 1103/-
To, Service Provider A/c RS. 55150/-
To, Tds Payable A/c Rs. 1103/-
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rohit kumar rai
1. IN THE BOOK OF PERSON WHO RECEIVE SERVICE.
a) AT THE TIME OF BOOKING:-
expence a/c dr-50,000
to tds a/c 1000
to party name 49000
b)AT THE TIME OF PAYMENT :-
TDS A/C DR 1000
TO BANK 1000
PARTY A/C DR 49000
TO BANK A/C 49000.
2) IN THE BOOK OF PERSON WHO PAID SERVICE TAX TO GOV.
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 ? | 2 Yes | 2 No |
Answer / sunil kumar
If Service Tax Included In Rs. 50,000/-
Expence A/C Dr. Rs. 45,331/-
Service Tax Cenvatable A/C Dr. Rs. 4,669/-
Creditor A/c Dr. Rs. 1,000/-
To, Creditor A/c RS. 50,000/-
To, Tds Payable A/c Rs. 1,000/-
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / awez ali
expenses a/c dr. 44499.82
service tax a/c dr. 5500.18
tds a/c cr.890.00
part a/c cr. 49110.00
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / anuj kumar
EXPENSES A/C DR 50000
SERVICE TAX INPUT A/C DR 5150
TO PARTY 54047
TO TDS 1103
Is This Answer Correct ? | 3 Yes | 3 No |
Answer / sujit pandey
Expenses a/c dr - 50000
Service tax input dr-5150
To party a/c - 55150
At time of Tds
Party a/c dr -54150
tds input dr -1000
TO BANK A/C -55150
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ananta sahu
Professional Fees A/c Dr
Swachh Bharat cess expense A/c Dr
Cenvat on Service Tax A/c Dr
Cenvat on KCC A/c Dr
To TDS Payable A/c
To Party A/c
Is This Answer Correct ? | 0 Yes | 0 No |
Expense A/c Dr 50000
Service Tax payble Dr 5150
To Tds Payble Cr 1103
To Party A/c Cr 54047
(being servicetax paid (10.3)& tds deducte 2%)
Is This Answer Correct ? | 9 Yes | 10 No |
i am working as an accountant. i forgot to deduct the TDS of one employee in year 2010-11 of Rs.1141/-. Now what is the procedure or solution for it?
if the reparing & machinery maintanance for one party the whole year payment paid rs.75000/- crossed than tds is deducted from amount
While I prepare Form JJ for goods transfer I made a mistake that the value of goods is morethan the actual value(i.e. instead of Rs.92100/- I filed Rs.1354000/-)and the copy of JJ sheet is sealed in the checkpost one copy is taken in the checkpost. please anybody give me the exact solution. thanks
Whether Luxury Tax is applicable for ICU Bed charges..
What is the meaning of dealer?
can anyone answer,how to calculate TDS for the whole year of a person whose salary is Rs 9000 p.m. so his D.A. has risen up quaterly wise for eg, April - June 63%, july to sept 73% which is upto fourth quater
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
0 Answers ABB, Chartered Accountant,
Dear Sir, we have purchased Poly Covers ( 360mm x 560mm)for raw material use.This Input vat claim it or not ?
How we will learn Sales Tax, VAT quickly?
vat return dates for uttrakhand
Which Schedule must prepared with Balance Sheet as a supporting documents. breifly explain? like depriciation,debotrs,creditors
what is the difference between Excise duty and Custom duty? and direct cost and Indirect cost with examples?