Service tax
Kalki Vital Narayanam (CA Final Student) (121 Points)
02 September 2016
Under which Circumstances Service Tax can be debited to Profit & Loss Account?
1 Replies
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 21 September 2016
Service Tax - You are acting as an Agent to the Govt/Dept., by the way collecting from your clients & paying the dues to them. In which case in will not affect P & L. In case if you pay penalty (for late filing such as Interest or so) that alone can be Debited to P&L a/c
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