Journal Entry
This query is : Resolved
09 May 2011
Can anyone help me on journal entry for service tax also if i am getting Cenvat credit.
09 May 2011
EXPENSE (INDIRECT OR DIRECT EXP) - DR
INPUT OF SERVICE TAX (CURRENT ASSETS)-DR
TO PARTY/BANK
INPUT OF SERVICE TAX (CURRENT ASSETS)-DR
TO PARTY/BANK
09 May 2011
EXPENSES ACCOUNT DR
CENVAT CREDIT ACCOUNT DR
TO PARTY/BANK
NOTE:- CENVAT CREDIT A/C WILL BE DEBITED BY THE AMOUNT OF SERVICE TAX PAID ON WHICH CREDIT IS AVAILABLE.
CENVAT CREDIT ACCOUNT DR
TO PARTY/BANK
NOTE:- CENVAT CREDIT A/C WILL BE DEBITED BY THE AMOUNT OF SERVICE TAX PAID ON WHICH CREDIT IS AVAILABLE.
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