Interest payable entry
This query is : Resolved
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
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
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
interest Dr 4368.23
Input GST Dr 1223.10
Cess Dr 218.41
TDS on Interest @10% Cr 437
Vendor Cr 5372.74
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- SFT Cash Deposit in Current Account
- Copyright software
- When TDS on GST applied
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
