12 November 2010
Thanks Aditya sir . Please also let me know the rate of depriciation on tools & parts. I also want to ask that which rate of depriciation will be applicable on tools whose rate value is less than Rs. 5000/-.
01 December 2010
we are in service sector.we have taken a commercial apartment on rent for office use. we have started to paid rent from july 2010 Rs.117600 on this. now the owner has raised a bill of service tax of five months (from july to november). this service tax was not paid with the rent invoice. Now i want to know that how to make the entry of this service tax amount in the company's books. pls let me the entry of this and also let me know that how should i treat this service tax amount. whether to treat as liability or else.
01 December 2010
Since you are in service sector you must be charging service tax also and hence the service tax you have to pay can be claimed as input credit for your output you pay.