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

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..... Reverse charge method if eligible how to pass entries in books of accounts
Query (Issue) Started By: - KOTESWAR PS Dated:- 23-7-2012 Last Reply Date:- 2-8-2012 Service Tax
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Servic .....

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..... e Tax
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 .....

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..... 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 T .....

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..... ax 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/- Reply By vasudevan unnikrishnan: The Re .....

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..... ply: 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 ' .....

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..... 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, .....

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..... unnikrishnan v.
Discussion Forum - Knowledge Sharing .....

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