cmasunil

 Profile Answers by cmasunil 

• Aug 6th, 2008

 

When we are making a payment for services which include service tax, Then entry will be

    1. Paid to Port trust for haulage, tipping, sidding etc charges including Service Tax

                   Party A/c ( Port Services) Dr.   100000
                   Service tax Credit A/c      Dr.      12360
                               To Bank A/c                           12360

    2.When making any payment of service tax after availing Servcie Tax Credit

                   Service Tax  A/c     Dr.        15000
                         To Service tax Credit a/c         12360
                         To Bank A/c                               2640   

    3.When we receive refund

                   Bank A/c     Dr.          12360
                      To Srevice Tax Credit A/c    12360
     

c7831887

 Profile Answers by c7831887 

• May 20th, 2009

 

If we receives a bill with service tax @ 12.36% on Rs.10000/-, the entry will be:
Purchase A/c Dr.	11236
To Party's A/c		10000
To Service Tax payable A/c  (Contra-1)		1236
(Being the Purchases made from ABC, accounted)
When we make payment to Government for Service Tax, 2 entires will be passed
Service Tax payable A/c (Contra-1)	1236
To Service Tax A/c (Contra-2)		1236
( Being the Service tax paid, accounted)
Servicce Tax A/c (Contra-2)	1236
To Bank A/c		1236
If we receive refund/claim from Service tax department,
Bank A/c	1236
To servicce Tax A/c		1236
(being the refund received from Service Tax, accounted)

MUNIKRISHNAPPA K

• Oct 31st, 2014

 

Journal : Dr Party
Cr Service Tax

Payment : Dr Service Tax
Cr Bank/Cash

KESHAV JHA

• Dec 16th, 2014

 

its right but I want to know that when we adjust service tax in the Excise duty than how can i pass these entries.please tell me friends I passed these entries if its correct or not :-

Excise Duty Dr.
Service Tax Cr.

Simran jeet

• Jan 6th, 2015

 

purchases 50 computers on 07.05.2014 for 20000 each plus BED @ 12.36% and vat 5 %. they took eligible cenvat credit during the month of may 2012. after using they sold the old computers @5000 each on 20.12.2012 . compute the amt. required to be paid removal of the capital goods from their premises. pls your entry

pankaj

• Mar 29th, 2015

 

Computer Qty 50 And Reate 20000/- Basic =100000*Ser tax 12.36%=123600=1123600+ Vat 5% ( 100000*5%=50000/- ( Total Payment 100000+123600+50000=1173600/-)

subir

• Nov 26th, 2015

 

My question is how to enter in Tally & What is the return entry?

RAJ KUMAR

• Nov 18th, 2016

 

We received a Freight Bill From Vendor for Rs, 50,000/-
Journal Entry:

At the time of Booking
Freight A/C ---------------Dr
TDS Accounts Cr.
Reversal of Service Tax Cr.
Party A/c Cr.

AT Payment time

Party A/c
To Bank A/c

Krishna Maheshwari

• Dec 17th, 2016

 

Suppose what can we do if I forgot to pass journal entry of service tax payment bill for the 1st half yr Apr to sept and now books of accounts are closed. Now what rectification we can make as books of accounts are already closed and service tax return for first first half period is also filed. .

dhatchayani

• Aug 1st, 2017

 

I have booked cenvat credit and failed to obtain refund bcoz of time lapse. Now the amount is showing in Current Assets, now need to write off the amount, as no chance of getting refund of service tax input booked
Pls give me the journal entry so that I can write off the amount in books