Carraige inward - service tax on gta
This query is : Resolved
08 August 2014
Sir,
we have one party whom we purchase the capital goods, transportation charges paid by party (seller) and they reimburse it from us by issuing debit note.. can we are liable for service tax or the other party?? and what entry we passed in our accounts... plz clarify this..
we have one party whom we purchase the capital goods, transportation charges paid by party (seller) and they reimburse it from us by issuing debit note.. can we are liable for service tax or the other party?? and what entry we passed in our accounts... plz clarify this..
08 August 2014
yes you are supposed to pay service tax as ultimately transporation charges are borne by you.
Cartage Inward Dr........................
Service tax Dr............................
To Customer................................
To Service tax payable......................
(Being cartage exp. booked)
Customer Dr..............................
To Bank....................................
(Being cartage amount reimbursed to customer)
Service tax payable Dr./................
To cash/bank...............................
(Being service tax amount given to department)
Cartage Inward Dr........................
Service tax Dr............................
To Customer................................
To Service tax payable......................
(Being cartage exp. booked)
Customer Dr..............................
To Bank....................................
(Being cartage amount reimbursed to customer)
Service tax payable Dr./................
To cash/bank...............................
(Being service tax amount given to department)
09 August 2014
service tax paid by you due to amount of freight paid by you.
or if the seller submit the declaration that he have already pay the tax on that freight then you can take this as a proof of tax payment.,
or if the seller submit the declaration that he have already pay the tax on that freight then you can take this as a proof of tax payment.,
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