Salary

Acct. Harsha (Accountant) (139 Points)

01 September 2017  

1) Salary to Sales Executive

We are a Dealer of ABC products of ABC Manufacturing Co. We pay Rs.10000/- to our Sales Ex. But actually 50% salary is paid by ABC Co. by issuing debit note Rs.5000/- to our Co. Ledger A/c. And then we finally pay full salary Rs.10000/- to Sales Ex. by cheque/ cash. Please tell me the correct method and/or entry for the same As per GST. (P.S.  We also need to send payment voucher of Rs.10000/- to ABC Co. to get debit note of 5000/-)

2) As per GST how salary should be paid ?  a) By cheque or cash ?  b) If cheque, do we need to make payment vouchers having Re.1/- revenue stamp on it & get signed by the payee?  c) If cheque, can we issue bearer cheque?