TaxTMI 
TaxTMI 
Adjustment of Service Tax On Advance Receipt
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....djustment of Service Tax On Advance Receipt<br> Query (Issue) Started By: - Raj Thakur Dated:- 14-10-2013 Last Reply Date:- 21-10-2013 Service Tax<br>Got 2 Replies<br>Service Tax<br>Hi, I am Raj Thak....
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....ur, 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 can adjust the ser....
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....vice 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 be taxed once and only o....
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....nce. 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 question of adjustment then. Rep....
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....ly 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 collected account. accounting entr....
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....ies to be conceptualized and can not be suggested easily in the forum.<br> Discussion Forum - Knowledge Sharing ....