Entry for Software development expenses
This query is : Resolved
santhosh natarajan
(Querist)
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?
CA R SEETHARAMAN
(Expert)
23 March 2024
The above entry is right.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
