Accounting Entry With GST and Income tax

This query is : Resolved

Hukam Chand (Querist)
Follow

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

10 October 2024 It's only bank charges account it as Bank charges.

Hukam Chand

Hukam Chand (Querist)
Follow

10 October 2024 Where is the imposed on Currency Fluaction kindly pass the entry please also covered the currency fluaction

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

10 October 2024 Pass entry for positive exchange gain for the difference between 83.30 and 84.50.

Hukam Chand

Hukam Chand (Querist)
Follow

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

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