20 November 2008
Can any one pls.. give me details on how to account for Service tax, I have Advertising Company and i charges Service Tax on My Advertising Biils....?
20 November 2008
Whenever service tax is charged to the customer, the same should be shown in the seperate account (balance sheet type) as service tax payable.
On receipt of money from the customers, the service tax component out of the same should be paid to the Govt. by debiting service tax payable account and crediting bank account.
CAclubindia
