Ima CA Student Anand Babu M hereby requesting you to clarify the doubt reg.Service Tax Accounting Treatment.

1.Entry for Service Tax when Invoice raised ?

2. Entry for Receipt when Debtor make Payment ?

3.Under what a/c head Service Tax receivable from debtor when Invoice Raised

4.Entry for Service Tax Payment made
5.how con we recognise the service revenue in respect of service rendered ? and does service Tax include in Service Revenue ?

please send mis report software(cash flow, fund flow, budgetry control) etc. on mukeshtiwari311@yahoo.co.in

Can insurance on fixed asset be capitalised ?

Hi all,

I want to know whether if there is increase in Finished stock, will there be increase in raw material consumption or the other way. Please help me in this matter in detail.

Diffrence beetwen US GAAP &Indian GAAP

pl. send excel Financial calculator.

Can anyone furnish me interest calculator for CC account in excel form.

Thanking You,.

From where can I find out accounting standards 30 and 31?

Can we credit the mat credit in the P&L a/c as per AS 22.Please give the detail of AS 22 & any other guidance note on MAT credit.My doubt regarding entry of MAT CREDIT when we can't book the future profit as per prudent concept then why we are making entry of MAT credit.

Dear sir/madam,
My query is as follows:-
1.X Ltd.got the approval of a BOT Project from State govt. agency in sept.2005.

2.X Ltd.formed a SPV Y Ltd. in Nov. 2005 having 70% share and rest 30% held by other entity. Agreement executed between SPV and govt. agency for contract cost maximum of Rs. 150 crore in Nov. 2005.

3.X ltd. made an agreement with SPV Y Ltd. for taking the same contract on 202.00 Crores in Sept.2006.
In between the period of sept.2005 to sept.2006 X ltd. was doing all formalities for the project.

4. For Dec. 2006 quarter X Ltd. shows contract completed 35% and books profit of Rs.60.00 crores in compliance with AS-7.

Here my question is that can X lTD.show such profit in short term where the BOT Project taken by SPV is for 20 years and SPV can earn revenue after completion of project by charging toll charges etc?

Here 70% funds of SPV financed by X ltd itself,so in reality X Ltd is showing inflow of revenue from SPV which is nothing but its own fund invested in SPV.
Is it possible ?