Accounting entries for composite dealer
This query is : Resolved
Kollipara Sundaraiah
(Querist)
15 March 2021
A registered cloth business composite scheme dealer sales to URD persons(customers) details per day transaction mentioned below.
1. Sales to URD customers Rs:1000/-
2.sales to URD customers Rs:500/-
3. Sales to URD customers Rs:800/-
4.sales to URD customers Rs:900/-
Above me sales details per one day all sales transaction through on phone pay or Google pay received from customers.
Question:
Dealer accounting entries passed in books
total single entry or 4 accounting entries passed is correct method
1. Sales to URD customers Rs:1000/-
2.sales to URD customers Rs:500/-
3. Sales to URD customers Rs:800/-
4.sales to URD customers Rs:900/-
Above me sales details per one day all sales transaction through on phone pay or Google pay received from customers.
Question:
Dealer accounting entries passed in books
total single entry or 4 accounting entries passed is correct method
Ganeshbabu K
(Expert)
18 March 2021
1) Section 31(3)(b) of CGST Act, can issue a consolidated invoice for all the invoices of value less than Rs. 200
2)So you need to issue seperate invoice in your case
2)So you need to issue seperate invoice in your case
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