SERVICE TAX

This query is : Resolved

Rajasekaran.K (Querist)
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21 June 2008 Hi my friends,
pls answer my following queries:
a) Wat is the accounting entry for taking C
ENVAT credit?
b) how will you account for adjustment made with respect to that credit?
c) Similarly how will you determine TDS receivable/payable at the end of the finanacial year?

Well i am doing my CS ... if you can clarify me on these aspects it d be better

mahavir

mahavir (Expert)
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23 June 2008 Accounting for Cenvat will be
Cenvat receivable A/c Dr
purchase/fixed assets A/c Dr
To Party

When u sale the goods
Party Dr
To sales
To Excice duty

End of the month
Excise Duty Dr
To Cenvat Receivable
To cash/ bank
TDS Receivable is based on TDS certificate u r having.

Rajasekaran.K

Rajasekaran.K (Querist)
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27 June 2008 Thanks my friend.. further if you could clarify me on how to verify the TDS deducted on payments it would be better... coz i am now working with a chartered accountant

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