Entry
This query is : Resolved
19 September 2016
Dear sir
i working in llp firm,
here working is internet solution so i need help about the entry when i purchase the service but there is no product so what is the entry on tally
for example: purchase from A party 425 + st 59.50 + sbc 2.13 + kkc 2.13
i working in llp firm,
here working is internet solution so i need help about the entry when i purchase the service but there is no product so what is the entry on tally
for example: purchase from A party 425 + st 59.50 + sbc 2.13 + kkc 2.13
19 September 2016
book it under expenses and take the Cenvat of expenses like ST and KKC The journal should be:-
Service Name(say Professional & consultant) Dr 427.13
ST Cenvat Dr 59.50
KKC Dr 2.13
To creditors 488.76
Here SWC is added with the service amount, coz we can't claim credit of SBC. Remember to deduct TDS (if applicable) at the time of payment to the creditor.
Service Name(say Professional & consultant) Dr 427.13
ST Cenvat Dr 59.50
KKC Dr 2.13
To creditors 488.76
Here SWC is added with the service amount, coz we can't claim credit of SBC. Remember to deduct TDS (if applicable) at the time of payment to the creditor.
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