Accountanting entries
This query is : Resolved
17 October 2022
I want to know about sales d purchase accounting entries with gst .
If any gst on any service. How to do entries with gst.
If any gst on any service. How to do entries with gst.
18 October 2022
Whether you are composition dealer or regular dealer?
18 October 2022
For both composition and regular
18 October 2022
I want to know about basic accounting entries for any service sector also.
Payment received entry
Payment received entry
18 October 2022
Generally GST is collected from purchaser on behalf of government, and the same is paid back after claim of ITC.
So, for Regular dealer ... when it is paid to any vendor/creditor
Dr. Vendor/creditor
Dr. GST
Cr. Bank/cash
While any invoice is raised for supply...
Cr. Service rendered
Cr. GST
Dr. Debtor/ bank/cash...
So, for Regular dealer ... when it is paid to any vendor/creditor
Dr. Vendor/creditor
Dr. GST
Cr. Bank/cash
While any invoice is raised for supply...
Cr. Service rendered
Cr. GST
Dr. Debtor/ bank/cash...
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