Sachin More (MBA-Finance Executive - accounts & Finance) (422 Points)
10 January 2013Hie all,
i m having a bill of travita transport & logistics of rs 5050/-....previously we are paying in cash but now i have to issued cheque payment...wat is the criteria to book this bill as per service tax act ? shud i add service tax on this bill ..wat is the accounting entries for the same .... ??
?
Sonu Kumar
(Account Manager)
(665 Points)
Replied 12 January 2013
Under Reverse Charge Machenism the Entire Service Tax Amount Will be Pay by Service Receiver.
1. Transportation Charges - 5050
To Bank A/c - 5050
(Transportation Charges Paid)
2. Service Tax - 624
To Service Tax Payble A/c - 624
(Service Tax Liability Agsinst GTA)
Sachin More
(MBA-Finance Executive - accounts & Finance)
(422 Points)
Replied 12 January 2013
thnkssss
CAclubindia
