Cst security

This query is : Open

swati jain (Querist)
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25 May 2016 Dear Experts,

I want to ask that if a party has not given us the C Form and we want to keep an amount as security deposit from them,
then what will be its journal entry and further entries if CForm is received or not received.?

Rupesh Jain

Rupesh Jain (Expert)
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25 May 2016 if c form not received

CSt payable on AY a/c
to customer /security against C form.

if recd

Customer/Security for c form
to Bank a/c

swati jain

swati jain (Querist)
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25 May 2016 what will be the entry at the time of creating security deposit?

Rupesh Jain

Rupesh Jain (Expert)
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25 May 2016 Bank a/c
or
debtors a/.c

to
Security against C form receivable/ security for c form receivable a/c

swati jain

swati jain (Querist)
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25 May 2016 But then after this entry when C form is not recd, how come again security account is credited on payment of CST.

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