Rent
This query is : Resolved
Devarshee Bhattacharya
(Querist)
11 October 2017
What is accounting entry for GST paid on rent?
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
For those claiming ITC.
Debit Rent
Debit GST on inward supplies
Credit Cash/Bank
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
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
11 October 2017
Here GST refer to as IGST / SGST / CGST accordingly
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