Hi,
Service tax liability is only when received. So how to keep a track in accounting to ensure that service tax billed out is received.
3 Replies
Shyam Lal Naik
(Service)
(6158 Points)
Replied 25 July 2007
There are accounting softwares taking care of this problem now a days. for eg. Tally. How ever, I would suggest to prepare two registers independent of accounting entries. 1. Bill Register and 2. Receipt register till you find a reliable solution through accounting entries.
Gauravgupta
(63 Points)
Replied 25 July 2007
In addition to a bill book maintain a numbered reciept book also(i.e. give reciepts to the parties/clients when they make payment) ........ service tax liability can be ascertained from it
Ganesh
(Accountant)
(72 Points)
Replied 25 July 2007
Please send me the above to
utiganesh @ gmail.com
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