Could anyone explain me about withholding tax reversal mechanism as well as service tax reversal mechanism along with entries?
Kindly share your valuable views here, so i can understand clearly.
Thanks in advance.
For the service tax and with holding tax is some configration but some few of them different is there.
And for the with holding tax is like an vat 5.5%, 14.5% and 0% for fixed asset and for the vat 1%, 2%, 5.5% 14.5% you have make the file of Vat return file in the Form 100, 110, 105 may be.
With holding tax is tds configure vendors code wht box according to the rate prevails service tax is different it should be configured with activity code reverse service tax is payble by service receiver it should be entered manually.
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