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Cst security

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(Querist)
25 May 2016 Dear Experts,

I want to ask that if a party has not given us the C Form and we want to keep an amount as security deposit from them,
then what will be its journal entry and further entries if CForm is received or not received.?
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Rupesh Jain

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Rupesh Jain (Expert)
25 May 2016 if c form not received

CSt payable on AY a/c
to customer /security against C form.

if recd


Customer/Security for c form
to Bank a/c
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swati jain

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swati jain (Querist)
25 May 2016 what will be the entry at the time of creating security deposit?



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Rupesh Jain

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Rupesh Jain (Expert)
25 May 2016 Bank a/c
or
debtors a/.c

to
Security against C form receivable/ security for c form receivable a/c
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swati jain

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swati jain (Querist)
25 May 2016 But then after this entry when C form is not recd, how come again security account is credited on payment of CST.

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