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Former Member
Oct 30, 2012 at 10:39 AM

Sceanrio for reverse charges of Service Tax (tax payable by service receiver)

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Scenario for Reverse Charge under Service Tax : DEV Server :- Tcode FB60 Vendor Code 400071 Vendor Name Shree Ganesh Tour's & Travels Invoice No 067Test/2012-2013 Invoice Date 31/08/2012 Invoice Amount (Rs) 187092 Calculation Amount TDS …..=187092*1% 1871 Service Tax …..=(187092*40%)*12.36% 9250 Accounting Entry 66030001 Staff Bus Expenses…………………….Dr 187092 66030001 Staff Bus Expenses…………………….Dr 9250 17050002 TDS Contract 1%.........................Cr 1871 400071 Shree Ganesh Tour's & Travels….Cr 185221 70010001 Service Tax 12.36%.....................Cr 9250

How to configure this scenario,as service tax laws changed in India.