Hello All,
I've a couple of doubts in understanding TDS application in Credit Note. Hope you can clarify it.

Consider I've a tax invoice

Invoice 1
Base Amount : 100
GST : 18
TDS : 10
-----------------------
Total Payable : 108

1. So if the seller has to issue a credit note the above
A. Will the credit note be of 108 or 118?
B. In case I do not want to transact with the seller/vendor anymore, will he issue me a credit note of 108 / 118? And much cash will I receive from the vendor?
C. How does the seller/vendor deal with TDS?
D. When I apply my credit note for the above invoice in a new invoice (Invoice 2), will I apply 108 against the invoice payable value(excluding the TDS) or will I apply 118?

Its very confusing for me on how the reconciliation will work for TDS.

Please help me out.

Thanks in advance.

Our organisation set up for procurement of agricultural product. We give market cess on purchase price of agricultural product. 96 quintal stock have damaged due to rain. Can we add market cess for calculation of loss statement ?

Somebody director in the company he has a own car but company pay car Maintenance expenses so as company norms correct or wrong kindly suggest to me
Thanking you,

How to show in our Private ltd company balance sheet the loan funds availed by Mr. X who is a relative/friend of Company CEO(also the owner of company having 98% shareholding) where the entire Loan availed by Mr. X has been used to fund the business of the Company. The company also pays the EMIs of this Loan.

i want to learnhow to download balance of unlisted company.as i am making a project on rotomac scam and want balance of that company

Is compulsory to prepare Fund flow statement?.
Who will prepare FFS? Company or Anyother person?

Hi,
We have a requirement for one of the client where we recognize revenue only once a milestone is achieved. That milestone represents that the performance obligation has been completed. So for example if we they start providing services from 1st jand and they completed the milestone on March. So ideally as per 606 we need to recognize revenue only in march since we need to recognize revenue only once performance obligation is completed. Howe ever they incurred some costs in Jan and feb but no revenue recognized in those months. So there will be only costs and revenue in Jan and Feb which is against the matching concept. Can some one help in this query? Do we need to defer costs as well?

Sir,
I have an issue relating to issue of free sample.
I am giving finished goods as sample in the month of August. I want to know how to account these issue.
I would like to know whether treatment of issue of sample as sale with no invoice value is correct or not.( There by i can reduce my stock quantity).

Dear Team,

We have passed journal entry for Gratuity payable dated 31.3.19 as follows:
Gratuity A/c Dr
To Gratuity payable A/c

If there was no gratuity paid for the payable amount entered earlier and the new provision has to be created for the FY 19-20.
In this scenario, what about the old payable balance entered on 31.3.19.

Will that be added to current year provision? Or is there a cancellation entry for the old amount?

Hello Experts,
as per RBI circular clause 4.2.5 Upgradation of loan accounts classified as NPAs

If arrears of interest and principal are paid by the borrower in the case of loan accounts classified as NPAs, the account should no longer be treated as non­performing and may be classified as ‘standard’ accounts.

My question: if partial amount is collected in NPA account and reduced to less than 90 days overdue period, then the account will be treated as standard or still will be in NPA??