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Devarshee Bhattacharya

Devarshee Bhattacharya (Querist)

11 October 2017 What is accounting entry for GST paid on rent?

Amol S Joglekar

Amol S Joglekar (Expert)

11 October 2017 for end user the whole amount can be debited to Rent.

For those claiming ITC.
Debit Rent
Debit GST on inward supplies
Credit Cash/Bank

CA HITEN VELJIBHAI NAGDA

CA HITEN VELJIBHAI NAGDA (Expert)

11 October 2017 For Claiming ITC with TDS Deduction :

Rent Exp. A/c. Debit
GST Receivable A/c. Debit
TDS Payable A/c. Credit
Vendor A/c. / Bank A/c. Credit

For Claiming ITC without TDS Deduction :

Rent Exp. A/c. Debit
GST Receivable A/c. Debit
Vendor A/c. / Bank A/c. Credit

For Non Claiming ITC with TDS Deduction :

Rent Exp. A/c. Debit
TDS Payable A/c. Credit
Vendor A/c. / Bank A/c. Credit

For Non Claiming ITC without TDS Deduction :

Rent Exp. A/c. Debit
Vendor A/c. / Bank A/c. Credit

For Claiming ITC (Under RCM) with TDS Deduction :

Rent Exp. A/c. Debit
GST Receivable A/c. Debit
TDS Payable A/c. Credit
GST Payable A/c. Credit
Vendor A/c. / Bank A/c. Credit

For Claiming ITC (Under RCM) without TDS Deduction :

Rent Exp. A/c. Debit
GST Receivable A/c. Debit
GST Payable A/c. Credit
Vendor A/c. / Bank A/c. Credit

For Non Claiming ITC (Under RCM) with TDS Deduction :

Rent Exp. A/c. Debit
TDS Payable A/c. Credit
GST Payable A/c. Credit
Vendor A/c. / Bank A/c. Credit

For Non Claiming ITC (Under RCM) without TDS Deduction :

Rent Exp. A/c. Debit
GST Payable A/c. Credit
Vendor A/c. / Bank A/c. Credit

CA HITEN VELJIBHAI NAGDA

CA HITEN VELJIBHAI NAGDA (Expert)

11 October 2017 Here GST refer to as IGST / SGST / CGST accordingly

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