What entry to be pass in tally after payment of gst.
This query is : Resolved
01 November 2017
Sir,
What entry to be pass after payment of GST, otherwise it shows Duties and Taxes in liabilities side of Tally.
What entry to be pass after payment of GST, otherwise it shows Duties and Taxes in liabilities side of Tally.
02 November 2017
Dr. CGST - XXXX
Dr. SGST - XXXX
Cr. Bank - XXXX
Dr. IGST - XXXX
Cr. Bank - XXXX.....
Yes... Duties and Taxes are payable then it's shown as Liability....
If we have ITC then it's shown negative figure (Cr). At the time of year end we have transfer to "Revenue Authorities - Current Asset" head....
Simply said.,
Which is payable that is liabilities...
Which receivable/in hands that is Assets....
GOOD LUCK....
Dr. SGST - XXXX
Cr. Bank - XXXX
Dr. IGST - XXXX
Cr. Bank - XXXX.....
Yes... Duties and Taxes are payable then it's shown as Liability....
If we have ITC then it's shown negative figure (Cr). At the time of year end we have transfer to "Revenue Authorities - Current Asset" head....
Simply said.,
Which is payable that is liabilities...
Which receivable/in hands that is Assets....
GOOD LUCK....
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02 November 2017
Dear Mr Ashim Kr Ray.,
I saw your participate in CCI after a long time....
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02 November 2017
Yes sir, you right .
02 November 2017
A video made on this will be really helpful as practical.
02 November 2017
Sir,
Do journal has to be pass for this entry.
Do journal has to be pass for this entry.
07 November 2017
Sir,
IGST has to be paid as you said earlier
this entry has to be pass
Dr. IGST - XXXX
Cr. Bank - XXXX....
Here Bank of Accountant has been used for payment of IGST and later on cash payment made to accountant.
So what to be shown here in this case.Cannot be shown accountant Bank account.
IGST has to be paid as you said earlier
this entry has to be pass
Dr. IGST - XXXX
Cr. Bank - XXXX....
Here Bank of Accountant has been used for payment of IGST and later on cash payment made to accountant.
So what to be shown here in this case.Cannot be shown accountant Bank account.
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07 November 2017
Just Pass JV :
Dr. IGST A/c - XXXX
Cr. Tax Consultant - XXXX
and
Payment :
Dr. Tax Consultant A/c - XXX
Cr. Cash / Bank A/c....
But,
Advisable to use your firm account to Tax Payments.
Dr. IGST A/c - XXXX
Cr. Tax Consultant - XXXX
and
Payment :
Dr. Tax Consultant A/c - XXX
Cr. Cash / Bank A/c....
But,
Advisable to use your firm account to Tax Payments.
Message likes :
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07 November 2017
Dear Sir.,
Above said way., Open A Current Account in Your Firm name with Net Banking and Give the details to Your Consultant. So, Simple... or Pay Yourself...
Bcoz,
Some time the paymnet is not successful processing. That time the pressure is very high...
Above said way., Open A Current Account in Your Firm name with Net Banking and Give the details to Your Consultant. So, Simple... or Pay Yourself...
Bcoz,
Some time the paymnet is not successful processing. That time the pressure is very high...
Message likes :
1 times
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