samiksha nagar (Student CA Final) (168 Points)
10 March 2014Service receiver is a corporate entity receiving Manpower supply services from non corporate entity following are the transactions details:
Security charges: Rs.11500
25% ST : Rs. 355.35
Total Bill amount : Rs. 11855.35
75% st : Rs. 1066.05 (st paid by Service receiver)
i wish to know accounting entries for the above transaction. Also manner in which ST-3 return to be filled. Please give your suggestions
Sunil Kumar
(Indirect Taxation )
(1246 Points)
Replied 10 March 2014
samiksha nagar
(Student CA Final)
(168 Points)
Replied 11 March 2014
Sunil, that means we are paying ST of 75% (1066.05) & taking cenvat credit of full 25% (355.55) & 75% (1066.05) amount. Is this so, can we take cenvat credit of full amount Under Reverse charge mechanism?
CAclubindia
