HOW TO SET OFF REVERSE CHARGE SERVICE TAX RECEIVABLE AGAINST SERVICE TAX PAYABLES AND WHAT IS THE JOURNAL ENTRY FOR THAT ??????
1 Replies
Prashant Hegde
(Professional)
(262 Points)
Replied 25 April 2016
It depends on how you have passed RCM entry. If ST receivable showing debit balance then entry will be
ST payable a/c. dr
To RCM ST Receivable a/c
ST payable a/c. dr
To RCM ST Receivable a/c
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