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TMI BlogAdjustment of Service Tax On Advance ReceiptX X X X Extracts X X X X X X X X Extracts X X X X ..... Hi, I am Raj Thakur, I want to know that if we are paying service tax on advance receipt and later on we are also paying service tax on invoices i.e. when the services actually rendered. Then how we ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... can adjust the service tax amount paid on advance receipt and what accounting entry would be passed in the books of account. Kindly Suggest. - Reply By Brijesh Verma - The Reply = Any amount can ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be taxed once and only once. According to Point of Taxation Rules POT arises on invoicing, payment or completion which ever is earlier. SO you need not pay tax again and there will not be a quest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of adjustment then. - Reply By MANDAVILLI RAMAKRISHNA - The Reply = dr the customer by service tax amount on adv. payments cr the service tax collected account pay the taxes and debit the ST c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ollected account. accounting entries to be conceptualized and can not be suggested easily in the forum. - Adjustment of Service Tax On Advance Receipt - Query Started By: - Raj Thakur Dated:- 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4-10-2013 Service Tax - Got 2 Replies - Service Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxm ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... anagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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