Accounting entry for service tax with group detail
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2011
INCASE WE ARE TAKING TRANSPORTATION SERVICE FOR RS. 70000/- AND TRANSPORTER GIVE US BILL FOR SAID AMOUNT WITHOUT SERVICE TAX AND MARKED IN HIS CONSINGMENT NOTE (L R ) SERVICE TAX HAS TO BE PAID BY US.
IN SUCH CASE WE ARE READY TO DEPOSIET SERVICE TAX INTO GOVT. DEPT ON BEHALF OF TRANSPORTER
BUT WHAT ARE THE ALL ACCOUNTING ENTRIES (WITH THEIR ACCOUNING GROUP) FOR ENTIRE TRANSACTION FROM RECEIVED L/R (LORRY RECEIPT) TO PAYMENT OF SERVICE TAX
IN SUCH CASE WE ARE READY TO DEPOSIET SERVICE TAX INTO GOVT. DEPT ON BEHALF OF TRANSPORTER
BUT WHAT ARE THE ALL ACCOUNTING ENTRIES (WITH THEIR ACCOUNING GROUP) FOR ENTIRE TRANSACTION FROM RECEIVED L/R (LORRY RECEIPT) TO PAYMENT OF SERVICE TAX
06 November 2011
You have to creat two accounts in your account books
1 Transportation/ Freight Charges
2 Service TAx (GTA)
You have to debit these accounts while making payments and at the time of finalisation, these accounts may be clubed
1 Transportation/ Freight Charges
2 Service TAx (GTA)
You have to debit these accounts while making payments and at the time of finalisation, these accounts may be clubed
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