Accounting treatment of service tax

pl tell me about basic of service tax ?

T.S.Mohana Harish , harish_ts1984 @ yahoo.com advance thanks

If a company routs Service tax through P/L account, then Sec 43 B will be applicable or not.

what is the enrtry for availing input service tax credit when payment to the service provider is made after one month from the date of booking the service bill?

Please advice what entry to pass for taking credit when part payment made. Suppose Bill value is 1236 (Service ch. 1000+ST 120+Cess 36) and we are paying Rs. 500/-

hi,

can anybody explain how to show service tax in put in books....

Hi,

My question is what is the procedure of Service Tax & S.T Input credit.

WE have taking material from Diffrent State by diffrent transport co.service tax accounting done by us & paid by us. When we have sales to parties We have charged to customer Transportation charges with service tax. We have export material to diffrent country. our CHA Charged to us Service tax amount in their bill.

I want to know about what is the procedure of service tax paid?

can we have availe input credit charge by CHA?

On which transaction we have service tax. At that selling transaction we will eligible for paying service tax.

i 

Service Tax paid will a cost to the company, so it can be shown under Expense.

when the services rendered

                       at the time of making Provision

                       at the time of receipt of revenue

when the services availed

                       at the time of making Provision

                       at the time of Payment of Expesnes

the difference amount paid to be shown under Expesnes(entry)

Please reply for the same.

Hi,

Thanks for valuable information.Can you tel what treatment will be done at the time of cenvat credit on capital goods.

Dear

Can you please tell what entry pass at the time of matrial consumed, and

 what entry for closing stock,

what is difference between in amalagmation and merger and acquation,

what A to A foram in forx payment

what is IRR and what it mean

what kind of form is used for service tax

what are the clossing entry at the time of books closed

At the time of booking of revenue
Debit - Customer (By gross invoice amount)
Credit - Income (By amount net of service tax)
Credit - Service Tax Liability (By service tax amount)

At the time of receipt of payment from customer
Debit - Bank a/c
Credit - Customer a/c

and

Debit - Service tax liability a/c
Credit - Service Tax payable a/c

At the time of payment of service tax
Debit - Service Tax Payable a/c
Credit - Bank a/c or service tax credit a/c

From Income Tax point of view (Ref Sec 43B)
Amount outstanding in "Service Tax Liability" on 31st March and remains unpaid before filing of Income Tax return should be added to income.

Section 43B speaks about deductions that shall be allowed only on payment. Therefore essentially there has to be a claim of deduction. In case the enterprise follows practice of recognising Service Tax as a liability and Input Service Tax as an asset, it in no way claims deduction towards the payment of service tax. How, in this case, will the provisions of Section 43B be in operation if the service tax liability remaining unpaid at the end of the year?

means if v make sales on credit & service tax liability created and no payment from the party is received, & liability is outstanding then it sud b treated our income from IT view...?? I m not getting plz explain...

Sir kindly guide how to treat with service tax paid in balance sheet

if i am a manufacturer and paid or receive service tax input or output and also pay or receive excise duty. how can i  get tax credit in case. plz help me out.  

Then what is the entry in customer books ?

Thanks a lot for this Comprehensive Idea about Service Tax Treatment.