Interested to Buy Any Domain ? << Click Here >> for more details...
WHAT IS THE COMPLETE ACCOUNTING PROCEDURES OF SERVICE TAX?
WWHAT IS ITS ACCOUNTING TREATMENTS & HOW INPUT CREDIT WILL
BE TAKEN & HOW IT WILL BE ADJUSTED AGST OUTPUT SERVICE TAX?
PLS SUGGEST ME?
- 1 Answers
- 15409 Views
- I also Faced
- E-Mail Answers
Answer Posted / kanchi thakkar
service tax is payable only when it is realised in cash.
thus a journal entry that a service provider will book for
sales will be;
debtor dr
to sales
to service tax collectable.
& when he gets the money the entry would be
cash dr
service tax collectable dr
to debtor a/c
to service tax payable.
service tax input is service tax paid by the service
provider for sum service which he has enjoyed from other
service products(eg-service tax on telephone bill for the
office).whereas service tax output is the service tax which
he has collected from his customers.
thus service tax output is his liability & service tax
input his asset.
thus while paying his service tax dues he will have to pay
only net liability i.e. service tax output-service tax
input.
inshort he can claim the set-off
| Is This Answer Correct ? | 33 Yes | 5 No |
Post New Answer View All Answers
WHEN FORM VAT R-2 USE?
If I have bought goods from a seller in India and finally exported it to some other country, my understanding says I have to issue form H to seller to get cst exemption. My question is wether Bill of lading is must to be given to seller or not bcos if I give bill of lading to the seller from whom i haave bought material confidential information will go to seller as bill of lading will have buyers details...pls guide how to overcome this issue.
due date for issue of C form, if c form is not issue what will be the consequences
Hi, I need the clarification in Tax Rate in Karnataka for Frozen foods like Paratha, Briyani, Pasta's Please share the information for me
please tell me friends what are the formats of excise return and vat return?
What is US Tax Accounts? Can I get any information where from I take full knowledge about US Taxation?
Are woollen Blankets (Rugs) taxable under CST ? Can unregistered party sell it.
Hi, Is there limit of applicablity of excise payment for any orgnization...?? what is date of excise payment..?? Excise return date & what procedure & how to take benifit availing service tax in excise return..? What form reuire for Excise Return..??
What do you mean by vat, vat registration total cost hydra bad in which places
what is limit of form "16" or "31",c-form & form "11" or 3b during the issued on one time.
Sir, in CEntral excise we need to pay some amt with interest ex.13815 amt for 66 days how to calcualte this?
i wanna p.y tax assistant exam question paper Please send this as earlier as.
why is service tax set off is consider while calculating wct tds
what is the actual use of pure agent in tally erp 9 and why we use in tally .and what is the role of pure agent
Suppose there is a computer Inst. providing a course abc and the total fees for it is Rs.10000 per annum, now this institute gives the right to another institute to provide facility of that course on behalf of it and the fees amt. is bifercated to Regd. fees Rs. 2500, Exam fees Rs.500 and tution fees Rs.7000,now the former institute gives right to later ins. to take Rs.7000 and says that the amt. of regd. fees and Exam fees i.e Rs. 3000 must be given to it plus service tax, now we have to save the former ins. from paying service tax on Amt. 3000, how can we do this?
