Jouranl entries and how to cal

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

07 December 2012 Hi,

This is Ram, I have been facing some issues regarding service tax.

1 Supply of Manpower for any purpose 25% 75%
2 Service portion in execution of works contract 50% 50%

In above scenarion which journal entries will be generated and which base calculate the service tax and TDS.

Kindly provide the suggestions.

CA bhargava

CA bhargava (Expert)
Follow

07 December 2012 please provide a transaction and details...

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
Follow

08 December 2012 Eg. Basic service charges Rs. 1,00,000

Manpower Supply:
Manpower Expenses A/c Dr 1,00,000
CENVAT Receivable (Input Service) Dr. 3,090
To Party 1,02,059
To TDS Payable 1,031

CENVAT Receivable (Input Service) Dr. 9,270
To Service Tax Payable 9,270

Similar entries will be passed for works contract.

Upgrade to CAclubindia Pro. Subscribe Now!