In Private Limited company the Audit Fees Provision can pass entry with GST or without GST. The payment of audit fees to be paid in Oct-2019 after completion of audit & return filed. The auditor issuing bill of audit in month of Oct-2019. The Audit Fees is 50000/-without GST charged and with GST amount is 59000/-.
Second query is the company purchased a car for value of Rs.8,83,594/-in month of March-2019. The Party issue a bill taxable value 609375/- and CGST,SGST---170625 = 780000/- GST-CESS-17%--ON TAXABLE VALUE--609375/- CESS IS 103593.75. Any TCS on Motor Car Purchase.
Please advise me how to make the entries in books of accounts & GSTR-3B & GSTR-1 Return.
16 April 2019
At the time of creating provision. You are not able to take the credit as well as need not to enter the GST (i.e. on Audit Fees). in second query, you are not able to take the credit of GST on car. So you need to show the GST amount in cost of Car.
CAclubindia
