Hi All,
I have upload the new patch of service tax reverse mechanism, while gone through the pdf which is provided in the patch i have little query ,
as per new rule there are certain ration between service provider and service receiver. i have example.
| (Service Receiver) Reverse Charge % | 100 |
|---|---|
| Abatement % | 60 |
| Amount of Service | 10,000 |
| Taxable Base for Service Tax | 4,000 |
| Service Tax (12 %) | 480 |
| Service Tax E-Cess (2 %) | 10 |
| Service Tax SHE Cess (1%) | 5 |
| Total Service Tax | 495 |
In this above case the total bill will be 10495,
and my service tax entry table will hit , service tax base amt : 10000, and service tax amt : 495,
The other side which is paid by vendor is this
| (Service Provider) Reverse Charge % | 100 |
|---|---|
| Abatement % | 40 |
| Amount of Service | 10,000 |
| Taxable Base for Service Tax | 6,000 |
| Service Tax (12 %) | 720 |
| Service Tax E-Cess (2 %) | 14.4 |
| Service Tax SHE Cess (1%) | 7.2 |
| Total Service Tax | 742 |
Now my problem is this that when we have to pay total 1236 tax of amount 10000( both service provider and service reciever) now in my if iam receiving the service i have to pay only 495, now if i go through the sales register report,
than it will show 10000 as base amt and 495 as tax amt ,which is 4.95% , so my g/l will so differnent report and my sales register will show different report, because in PDF they are using journav Voucher to adjust the 742 amt from one account to another account.
any idea how to resolve this, so that there is no need to use Journal Voucher.
Regards,
Shailesh