How to pass a JV when we receive bill including service tax? How to close this a/c?

Rajesh

• Mar 12th, 2016

2nd Jv is wrong
Service tax liability A/C Dr
To, Bank A/C Cr

Amitabh Singh

 Profile Answers by Amitabh Singh Questions by Amitabh Singh

• Apr 21st, 2009

Service Tax would be credited by debiting the vendor's A/c bill wise for the whole time period of say one month or one quarter etc. and at the time of payment the Service Tax A/c would be debited by crediting the payment source A/c say Bank or cash.

Answer Question  Select Best Answer