Service Tax Benifet For P & L A/c

This query is : Resolved

Rohit Gupta (Querist)
Follow

01 June 2010 I am Rohit Gupta my query the Commission Received the 25Lac's for the ass.2010-11
But Service Tax no- is no avilable.Party is no pay the service tax payment.

Service Tax No Aply the May-2010, 1. Self Deposit the Service Tax pyament But Service tax benfit the p&l a/c
2. Service Tax Deposit the Last Ass.year 2010-11 is comperisly.

Rohit Gupta
M-9868209946

CA Ravi Kumar Murugesh

CA Ravi Kumar Murugesh (Expert)
Follow

01 June 2010 Though your question is not clear, iam presenting your question and reply on my understanding:
Q: Commission received during the year 2009-10 Rs. 25 lakhs. There is no service tax registration number for your client and not paid the service tax amount so far. He has applied for registration in May10. He wants to pay the service tax amount on commission amount with out collecting from his clients. Whether he can claim the service tax paid amount in P&L account?
A : In this case, you have to calculate service tax amount in reverse mode and pay the service tax after receiving service tax registration number.
For eg: If your commission is Rs.100, then the service tax payable will be Rs.100/110.30*10.30=Rs.9.34.
You have to show your commission income in your P&L account as Rs.90.66/- only to calculate your computation of income for the Assessment year 2010-11.

If my understanding is different from your question, do post once again with clarity.

Rohit Gupta

Rohit Gupta (Querist)
Follow

02 June 2010 In cass you have no reverse mode but TDS Deducted the 25lakhs Form 16A Received the 25lakhs, is p&l income show the 25lakhs.

Service tax pay the last year 2009-10 the pay service tax is compersly

Upgrade to CAclubindia Pro. Subscribe Now!