22 March 2016
One bill of financial Year 2014-15 ( For January 2015) yet not booked but i want to book this expenses . what will be its implication
security service charge 50000.00 Service tax 6180.00 Total 56180 Now how to make entry , whether i have to service tax input can be booked as expenses because more than one year cenvat credit will be not allowed , please reply this question & what will be tax effect on service tax and income tax.
Due to not booking of invoice, TDS liability with interest under section 201 will arise.
So entry for both the above will be
Security service charges ac dr (Bill + Service tax amount) Interest on TDS ac dr ( Interest on TDS amount) To Party ac (Balance figure) To TDS payable (TDS with interest)
CAclubindia
