Interest payable entry

This query is : Resolved

A Srinivas (Querist)
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07 June 2021 sir
supplier charged interest for delayed payment of amount as below

interest payable 4368.23
cgst @14% 611.55
sgst@14% 611.55
cess 218.41

total payable by the dealer to supplier is 5809.74
please tell how to account for and creation of voucher

Thanks & Regards
srinivas a
accountant

9490024024

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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09 June 2021 why creditor charged cess on interest ?
interest Dr 4368.23
Input GST Dr 1223.10
Cess Dr 218.41
TDS on Interest @10% Cr 437
Vendor Cr 5372.74