Journal entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2014
ours is a pvt ltd co. we made an advance payment to a pvt ltd co towards AMC of rs 35000/- agnst work order & balance pmt to be made after the tenure expires.we deducted TDS @2% on the adv amount & paid Rs. 34300/-.Now the party has given us a bill agnst this payment which incl ser.tax & gross bill amt is Rs.39326/-.my query is what will be the Journal entries for this entire event. plz help its urgent
28 June 2014
give credit of full amount to party
Expenses Dr
Ser tax Dr
Edu Cess Dr
S & H cess Dr
To party
then deduct TDS on balance amount
party Dr
To TDS Payable
Expenses Dr
Ser tax Dr
Edu Cess Dr
S & H cess Dr
To party
then deduct TDS on balance amount
party Dr
To TDS Payable
28 June 2014
expenses a/c
service tax receivable a/c
to party
to Tds payable
another entry
party a/c
to bank a/c
tds a/c
to bank
service tax receivable a/c
to party
to Tds payable
another entry
party a/c
to bank a/c
tds a/c
to bank
30 June 2014
agreed with arun....................................
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