Facts : Bajaj Finance is giving loan on car/vehicle tyres. We are dealer of tyre. If I issue bill of Rs.100 to customer, bajaj finance will give me Rs.100. Later, that customer pays Rs.100 + interest to Bajaj Finance. We issue bill in the name of Customer. Bajaj Finance is giving monthly bill to us under name "Subvention charges" and charge GST on it. In GSTR-2A Subvention charges 135890.69, CGST 12230.16, SGST 12230.16

Question : If we want to utilize that ITC (GST) then such subvention charges should be debited. Now what entry we should pass ???

By Subvention charges Dr
By CGST Dr
By SGST Dr
To ?????

Since neither we have paid any money nor we liable to pay to Bajaj Fianance.

What should be the accounting treatment of Stamp Duty on purchase of Mutual Fund both in Corporate A/c and Individual A/c. Please Advise

Dear Sir,

I have a rented commercial apartment in which I am the first holder and my mother is the second holder.

We have divided the rental income equally between both of us but all the installation payments for purchase of the property were made by my mother's bank account.

Is it necessary for me to show the property in my books of accounts as all the payments were made by my mother on my behalf and at present the entire value of the property is reflected in my mother's books of accounts.

We file our income tax returns under individual capacity U/s 44AD.

Please help me regarding this matter.

Regards,
Divyesh Jain

A partnership firm different unsecured loans received value Rs:20 lacs outstanding opening balance as per books.this total unsecured loans value rs:20 lacs transferred from a partnership firm to one of partner capital account.
Question:
How to passed accounting entries in a partnership firm and partner individual account.

SIR
As we are GTA ,we have to issue consignment note. Guide me how to issue the manual consignment if our office is one place and the loading point is in another place. Can we do it through whats app / e-mail after the filling the same to driver for reference?

thanks in adv

SIR
We are GTA, also registered under GST, but not charging any GST in the invoice for the services providing by us. ------- We are buying bio-diesel from Parties for our own use and accounting the transactions perfectly. My doubt is whether the stock of bio-diesel has to be maintained seperately like the manufacturing unit?

guide me plz
thanks in adv

If any entryof capitalize item and it's depreciation was made wrong in past year and came to know in current year then how to correct it in current year.

Dear Sir/Madam
What entry can be passed if Employee contributes to Provident Fund From his salary and also employer contributing pf in that account? ( in the books of EmployEE)
and also suggest which amount can be shown as receivable in the balance sheet( means the total of employee-employer contribution or else only employee contribution?)

Hi,

Can anybody help me on the below:

We have supplied material to customer for rs 103530.00 (98600+4930 GST)and bill has been raised for the same. Whereas the customer has transfered rs 99388.00 after deducting TDS and also GST @2% (i,e 2071.00 TDS & 2071.00 GST). pls help me how to account this in Tally. Also how it should be corrected in GST.

Please suggest me for this....

Dear Sir,

I Have Query About Export Ledger Adjustment . We Have sale Machine In Rs.5,00,000.00 Rawanda (South Africa ) Payment Received Rs.5,20,268.

Please Share Me Detail How Adjust Extra Payment Received Amount In Her Account