Discosure of Service tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 August 2010
we are having pvt.ltd.company which is providng service to client.Does it mandatory to disclose Gross Revenue less service tax on face of profit & Loss Account or it would be ok if we show only net on the face of profit & Loss A/c
24 August 2010
Gross receipt should be shown in the Profit and Loss account and the amount of Service Tax should be debited to P & L Account separately. This is the generally accepted accounting principle and practice
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