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?
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Answer Posted / biseswar
Expence A/c 50000.00Dr.
Service Tax payable 5150.00Dr.
To TDS Payable (194c Contractor) 1103.00Cr.
To Party A/c 54047.00Cr.
Being the Bill Booked after deduction 2% TDS
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