Financials for India - EBS (MOSC)

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How to adjust service tax

edited Aug 28, 2013 10:18PM in Financials for India - EBS (MOSC) 5 commentsAnswered
Dear Experts,

    Prepayment provided to vendor : 10000, this needs to be booked only in payables.

      ST to be paid to Government :   1236, Correct me if I am wrong, this needs to be entered in manual service tax entry form.

Now, the Bills comes from vendor : 30000 + ST 3708 = 33708

Now, the service tax to be paid to government will be 2472 ( 3708- 1236). This will be picked from IL Tab, and the amount will be booked for 3708 instead of 2472.

How, this ST adjustment needs to be handled in payables.

Regards


Sachin

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