Accounting Entry With GST and Income tax
This query is : Resolved
Quick Summary
10 October 2024
Dear Ca Club Expert,
I want to know about the some accounting entry with gst and income tax for my given query in below mention here:
Please give me the some solution because I am some little about confusing
My company name is ABC india Pvt Ltd located at India sold export goods to XYZ located at europe detail is given below here
Sales booked on 04/03/2024- DOLLAR 5000 @ 83.30
Remmitance received to Bank on 28/03/2024 dollar 5000 @ 84.50
Bank has credited the amount to me 412750 means @ 82.55
How to treat this loss from 84.50 and 82.55 either exchange loss or bank
Please pass the complete accounting entry and any other entry if you su ggest me for above example
I want to know about the some accounting entry with gst and income tax for my given query in below mention here:
Please give me the some solution because I am some little about confusing
My company name is ABC india Pvt Ltd located at India sold export goods to XYZ located at europe detail is given below here
Sales booked on 04/03/2024- DOLLAR 5000 @ 83.30
Remmitance received to Bank on 28/03/2024 dollar 5000 @ 84.50
Bank has credited the amount to me 412750 means @ 82.55
How to treat this loss from 84.50 and 82.55 either exchange loss or bank
Please pass the complete accounting entry and any other entry if you su ggest me for above example
10 October 2024
It's only bank charges account it as Bank charges.
10 October 2024
Where is the imposed on Currency Fluaction kindly pass the entry please also covered the currency fluaction
10 October 2024
Pass entry for positive exchange gain for the difference between 83.30 and 84.50.
10 October 2024
Why i booking the profit difference between 83.30 and 84.50 if i am remmitance recd 84.50 bank crediting 82.55 (difference 84.50 and 82.55 ) please clarify
11 October 2024
It's banker's are deducting bank charges.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Sales of goods of amount Rs77 lakhs to a party
- ITR WITH 0 TURNOVER
- Value of Perquisite Sec.10 (10CC)
- Value of Perquisite Tax Borne by Employer
- How to pay tds on mhada property
- Query related to CA/CS/CMA Firm
- NRI get transferred fund from his own Indian account to his foreign US account without any approval
- ITR-3 - How to show loss in 65(i) - (iii) under under Part A - P & L section and sub section 65?
- Schedule Dpm under 44ada no account casr
- Automatic MIS from Tally ERP
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- TDS on property - Form 141 query
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
