Journal entry for advance payments

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2014 What would be journal entry for advance payments made to contractor with service tax,TDS and WCT.
For ex value 100000
service tax of 7.2% tds 2% and wct 2%

Guest

Guest (Expert)

30 May 2014 contractor a/c dr,100000

To service tax pay 7200
To TDS Payable 2000
To WCT Payable 3000
To Bank 87800

Querist : Anonymous

Querist : Anonymous (Querist)

30 May 2014 Isn't this my input service tax..how can i book this my input in books,n how can i utilse this as my cc

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Guest

Guest (Expert)

30 May 2014 u had given full details before yaar... chalo i wil revise it

Rupesh Jain

Rupesh Jain (Expert)
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31 May 2014 when you make payment then you make simple accounting entry and make deposit the tds WCT on that amount.

service tax amount you claim then you received the bill w/o bill you can not take service tax cenvat.