New User / Register || Book Marks || Annual Subscription || Feed Back ||
Login: Stay
|| Forget Password ||
TMI - Tax Management India. Com  

Recent Discussionss:

S TAX DEDUCTION IS SALES TAX / VAT APPLICABLE FOR TRANSPORTERS. Clearance of goods to 100% EOU Unit in SEZ under ARE3 -Reg. Service tax applicability on Directors remuneration valuation of goods and ED on scrap Two companies in different states Import of Service i.e. Payment to architect of Dubai for construction of House in India Service Tax Payment on GTA Second hand equipment with EPCG Licence Necessity of RD 23 D
Discussions Forum
Home Forum Service Tax Month 7 2012 2012 (7) This
← Previous Next →

Reverse charge method if eligible how to pass entries in books of accounts - Service Tax

Issue Id: - 4409
Dated: -23-07-2012
Reverse charge method if eligible how to pass entries in books of accounts

we are service based company & service received Companay  , we are eligible for revese charge method, below i given some exmples for accouting kinldy check and let me know is it correct or  not

At the time of purchase.........Purchase a/c Dr Rs.100/-

                                               Service tax12.36% input a/c Dr Rs.12.36/-

                                                           To Vendor a/c 112.36/-

 Reverse Charge Method  for ex 50%

 Vendor a/c Rs.6.18/-

          To Service Tax Reverse Charge Input a/c Rs.6.18/-

 At the time of taken input

    Service Tax Reverse Charge Input a/c Rs.6.18/-

                       To Service Tax 12.36% Input a/c Rs.6.18/-

Post Reply
Previous Posts

Dated: - 02-08-2012
By: - vasudevan unnikrishnan

The Reverse charge and the rates to be shared for the 12 services has been enlisted in the notification no 30/2012. Pl. note that there are conditions also that for some sevices,if provided to 'body corporates' by non corporate agencies  only are to be shared .

However,the cenvat credit can be availed if the availed services are eligible as 'input services'.as per Cenvat Credit Rule, 2004,

unnikrishnan v.

Previous Next


what is new what is new

UpdatesKnowledge SharingSubscription CommunicationNewslettersMore Options

Go to Mobile Website Go To Top
© [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.