Journal entries
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2014
ours is a pvt ltd co. we made an advance payment to a pvt ltd co towards AMC of rs 35000/- agnst work order & balance pmt to be made after the tenure expires.we deducted TDS @2% on the adv amount & paid Rs. 34300/-.Now the party has given us a bill agnst this payment which incl ser.tax & gross bill amt is Rs.39326/-.my query is what will be the Journal entries for this entire event. plz help its urgent
Vishnu Saboo
(Expert)
28 June 2014
give credit of full amount to party
Expenses Dr
Ser tax Dr
Edu Cess Dr
S & H cess Dr
To party
then deduct TDS on balance amount
party Dr
To TDS Payable
Expenses Dr
Ser tax Dr
Edu Cess Dr
S & H cess Dr
To party
then deduct TDS on balance amount
party Dr
To TDS Payable
Rupesh Jain
(Expert)
28 June 2014
expenses a/c
service tax receivable a/c
to party
to Tds payable
another entry
party a/c
to bank a/c
tds a/c
to bank
service tax receivable a/c
to party
to Tds payable
another entry
party a/c
to bank a/c
tds a/c
to bank
30 June 2014
agreed with arun....................................
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Nursery business
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Tax on Amount transferred in HUF Account
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- 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
- Goods sold but invoice not issued
- 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?
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
