Indirect tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2018
Bill issued by ABC LTD to Y LTD for professional services rendered of RS.331200 (including service tax @ 15%), cheque received from Y LTD after deducting TDS.
Kindly guide me about journal entry in the books of ABC LTD & Y LTD.
Regards
Bharti
Kindly guide me about journal entry in the books of ABC LTD & Y LTD.
Regards
Bharti
15 June 2018
From ABC Limited to Y Ltd :
(Entry in ABC Ltd at the time of Issued Invoice- Under Direct Income )
Dr. Y Ltd A/c - Rs. 331200
Cr. Professional Service A/c - Rs. 288,000
Cr. Service Tax A/c - Rs. 40320
Cr. Swachh Bharat A/c - Rs. 1440
Cr. Krishi Kalyan A/c - Rs. 1440
TDS Receivable Entry (U/s 194J as Professional Services) as
Dr. TDS Receivable A/c - Rs 28800
Cr. Y Ltd A/c - Rs. 28800
Payment Receipts :
Cr. Y Ltd A/c - Rs. 302400
Dr. Bank A/c - Rs. 302400
(Entry in ABC Ltd at the time of Issued Invoice- Under Direct Income )
Dr. Y Ltd A/c - Rs. 331200
Cr. Professional Service A/c - Rs. 288,000
Cr. Service Tax A/c - Rs. 40320
Cr. Swachh Bharat A/c - Rs. 1440
Cr. Krishi Kalyan A/c - Rs. 1440
TDS Receivable Entry (U/s 194J as Professional Services) as
Dr. TDS Receivable A/c - Rs 28800
Cr. Y Ltd A/c - Rs. 28800
Payment Receipts :
Cr. Y Ltd A/c - Rs. 302400
Dr. Bank A/c - Rs. 302400
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 June 2018
Thanks alot sir for providing answer
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
- Showing Gift from relative in ITR for this year
- ITR selection for salaries and capital gain less than L
- Share accounting-->fifo - capital gain - period as per fifo?
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Scrutiny assessments u/s 143(2) for AY 25-26
- Capital Gain on EUITY Shares
- GSTR-4 Annual Return ! Pending Returns for F.Y. 20-21 to 22-23
- NON- SUBMISSION OF LLP FORM 3
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
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
