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1. Suppose Freight Charges Paid to Ajay Transports 10000
Entry
ViewFreight Dr 10000
To Ajay Transports 10000
Ajay Transports Dr 10000
To bank 10000
2. Suppose Freight Charges Paid to Ajay Transports 10000
ST Reverse Charge also applicable (ST RATE =15%*30%=4.5%)
ViewFreight Dr 10450
To Ajay Transports 10450
Ajay Transports Dr 10450
To bank 10000
To Output Service Tax 450
3. Suppose Freight Charges Paid to Ajay Transports 10000
ST Reverse Charge also applicable (ST RATE =15%*30%=4.5%)
TDS ALSO APPLICABLE 2% OF 10000=200
ViewFreight Dr 10450
To Ajay Transports 10250
To TDS 194C 200
Ajay Transports Dr 10250
To bank 9800
To Output Service Tax 450
- Learn more about TDS in freight .
- Learn more about Reverse charge on freight
- Learn more about Entries of Reverse charge on freight
