on 06-28-2016 7:52 AM
Hi,
What is the entry for Output Tax calculation with Swachh Bharat cess and explain with percentage values.
Thanks in advance.
Regards,
Babu.
Hi Babu,
The entry will be:
Customer A/c Dr 1145
Revenue A/c Cr 1000
Service tax payable A/c Cr 140 (1000@14%)
swach bharat cess payable A/c Cr 5 (1000@0.5%)
Regards,
Mukthar
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