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Reply from Roy B on Aug 21 at 3:27 AM Can you make assumptions like this without a tax invoice? In Europe you would be well advised to return the invoice and insist on having a proper tax invoice because you cannot deduct tax without the correct evidence for such. I would tell the supplier his invoice is not acceptable and he had better conform with the law if he wants to get paid.
Rgds, Roy
| | | ---------------Original Message---------------
From: DD_guest
Sent: Tuesday, August 21, 2012 1:38 AM
Subject: Service Tax Configuration
Hi,
Any suggestion for posting an entry given below. In this scenario, the service provider has not charged us service tax. Hence he just gives an invoice of Rs. 100. Though we will pay him full Rs. 100, the expense is split into exps and input credit. The amount of service tax input is calculated on the invoice amount , i.e Rs. 100. Assuming this is a case of works contract where we have to discharge 50% liability :
Exps A/c Dr. 93.82
Ser. tax a/c dr 6.00 ( this is 12% of Rs.100, 50% liability = 6)
Edu cess dr 0.12
HSEC cess dr 0.06
To Vendor a/c 100
Regards, |
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