Rent

This query is : Resolved

Share Report Follow Query Ask a Query

Devarshee Bhattacharya

Devarshee Bhattacharya (Querist)
Follow

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

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

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)
Follow

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)
Follow

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

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now