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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
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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
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