A query has been raised regarding the correct accounting treatment for Tax Collected at Source (TCS) on scrap sales when it was initially omitted from an invoice. The user has since deposited the TCS and is seeking clarification on whether to issue a separate invoice or simply pass a journal entry. The discussion also touches upon the implications for updating the GST portal if an invoice is issued.
22 February 2022
TCS not charged in invoice in respect of scrap sale , Now i deposited TCS on such sale, my question is that for such TCS amount , i have to issue Invoice or only pass through Journal entry, when i issue invoice then we have to update in GST Portal also.