My doubt is that we was generated a service invoice to a client abroad , we already took LUT. So issue invoice with 0% igst. The client remit payment through a payment app. But they payment was hit to bank in INR. We already file gstr 1 return as export services including the former invoice. But while gstr 3b we are requested to pay igst of the same invoice@18%( because the payment received in the form INR). Client is outside india so they are not agreed to pay the gst portion. So we decided to pay the gst portion on the behalf of client.
Normally the entry for service is
Account receivable a/c dr
To output igst
To service income
Payment of igst
Output gst dr
To bank

I want to know the journal entry when the igst payment in case of services to the foreign client ( who makes pyment in INR) ,& we pay the gst instead of them.

How to pass journal entry of profession tax for company and Directors.

Respt Sir


In a godown trading stock worth Rs 100 loss by flood . Insurance co. has calculated salvage value worth Rs 22 and paid to us .
The damaged stock at godown which are likely to be auctioned in open market by insurance co. ,we have opted to buy back damaged stock (good condition / recycle /usable) for Rs 18
please guide me a accounting entry in tally
Regards

Hey , Can anyone help me in this query.
what is the best practice to record the hamali payment entry in Tally i.e. In case 1. Debit... Hamali A/c & Credit .... Cash / Bank A/c. In 2nd Case Debit.... Hamali Name A/c & Credit .... Cash / Bank A/c. In case 1, only one ledger will be maintained i.e. Hamali A/c . In case 2, Hamali Name1, Hamali Name2, 3, 4......... etc ledgers will be opened.

We made sales to a party in 2011-2012 of which one sale of Rs5 lakhs was entered into partys AC by mistake. Now the mistake have been found. The sale of 5 lakhs was made to other parties during that period. How can we rectify now this mistake? Pl advise? Will there be any issues from Income Tax?

NAMASKAR, I AM AN ACCOUNTANT FOR AN TAX AUDIT BUSINESS INDIVIDUAL BUSINESS.. THE COMPANY IS UNDER TRADING OF EDIBLE OILS AND GHEE ETC. THEY RECENTLY RECD AN E INVOICE WITH A DISCOUNT OF RS.103050/- IN THE INVOICE ITSELF.
WHETHER WE HAVE DEDUCT TDS ON ON THIS AMOUNT EARNED I.E. RS. 103,050/- WE WILL BE THANKFUL .

What would be the accounting treatment of expenses incurred towards Land mutation charges, registry charges and land conversion fees under the two scenario:

1. If Land registry, mutation and conversion fees are reimbursable by the Govt under a scheme?
2. No such scheme is there?

Thanks in Advance

Regards

Dear Respected Members,

Can we consider the purchase of Mobile and power bank as a fixed asset? if not under which head in tally? especially power bank?

Sir If The Invoice Was Rs. 110 and the party given discount of Rs. 10. But in BOE item value shown as on Rs. 110

1.Then Whether I should record as 110* Conversion rate
2. Or Should record 100* conversion rate and Rs. 10 as discount recived

supplier charged interest for delayed payment as below
Supplier sent a DEBITNOTE
DEBITNOTE DETAILS
interest payable 4368.23
cgst on interest @14% 611.55
sgst on interest @14% 611.55
cess 218.41

total payable by the dealer to supplier is 5809.74
please tell how to account for and creation of which type of voucher in tally software