sir,
i want to know about accounting journal entries of tds, service tax and exise.
Regards,
pawan verma
5 Replies
SACHIN KUMAR GARG
(Final Student)
(105 Points)
Replied 05 April 2010
Cash/Bank A/c Dr
TDS/Service tax/ Dr.
To Vandor/Creditor A/c
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 05 April 2010
For TDS
expenses Dr
to party
to TDS
( being Expenses Booked)
TDS Dr
Party DR
to bank
(Being Payment made for expenses as well as TDS)
Ratan Deep Saxena
(Asstt Manager (Accounts & Finance))
(2998 Points)
Replied 05 April 2010
EXcise
Party Dr
to sales
to excise duty payable
( Being sales booked)
Service Tax
Party dr
to service charges received
to service tax payable
(being service charges received)
on payment
Service tax payable dr
excise duty payable dr
to bank
( Being serice tax & excise duty paid)
regards,
ratan
SACHIN KUMAR GARG
(Final Student)
(105 Points)
Replied 05 April 2010
I wrongly written Vandor/ creditor instead off Debtor
Ratan i think ur confused about entries. Let see how.
1st case (as per u)
For TDS
expenses Dr
to party
to TDS
( being Expenses Booked)
TDS Dr
Party DR
to bank
(Being Payment made for expenses as well as TDS)
Here TDS cancelled and entry to transfer to Capital is pending
CA Bijay Kr. Saha
(Asst.Mgr. Accts. & Fin)
(72 Points)
Replied 05 April 2010
Journal Entry for TDS Receivable Journal Entry for TDS Payble
Cash/Bank Dr. Vendor A/c Dr.
TDS Receivable A/c Dr. To Bank/Cash Ac
To Income Head A/c To TDS Payable A/c
Excise Duty Receivable Excise Duty PAyble
Purchase A/c Dr. Cash/Bank /Debtors A/c Dr.
Excise Duty Receivable A/c To Sales A/c
To Bank/Cash / creditorsA/c To Excise Duty Payble A/c
Similar Way Service Tax Journal Entry
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