Entry for Software development expenses
This query is : Resolved
22 March 2024
Paid advance for Software development(ERP) amounting to Rs.15,00,000 on 20/12/2023
Vendor raised the Invoice for the advance paid on 20/03/2024 along with GST
Software development expenses(Intangible asset a/c) dr 15,00,000
Input CGST 9% dr 1,35,000
Input SGST 9% dr 1,35,000
Party a/c cr 17,40,000
TDS for sec 194J(Technical Services@2%) cr 30,000
Is the above entry correct?
Vendor raised the Invoice for the advance paid on 20/03/2024 along with GST
Software development expenses(Intangible asset a/c) dr 15,00,000
Input CGST 9% dr 1,35,000
Input SGST 9% dr 1,35,000
Party a/c cr 17,40,000
TDS for sec 194J(Technical Services@2%) cr 30,000
Is the above entry correct?
23 March 2024
The above entry is right.
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