Entry

This query is : Resolved

ronak (Querist)
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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

Sandeep Dharar

Sandeep Dharar (Expert)
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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.

ronak

ronak (Querist)
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19 September 2016 dear sir

so i can't pass purchase entry on purchase

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