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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 / 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 |
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