30 May 2014
security exp. 100000 service tax receivable a/c 3090 service tax receivable a/c 9270 to party Name 103090 to service tax payable (reversing charge)9270
30 May 2014
1.At the time of booking of expenditure and service tax liability
Security Charges Dr. 100000 Service tax input but not due Dr. 9270 (bcaz service tax input can be avail afetr payment of S.tax under RCM) Service tax input Dr. 3090 (which is payable to party) To Party 103090 To Service tax payable 9270 (payable as service receiptent)
2. At the time of payment of service tax
Service tax payable Dr. To Bank
3.After payment of service tax as service receiptent you can avail service tax input so
Service tax input Dr. 9270 To service tax input but not due 9270