A company pays rent of 25000 for jan 2019. The landlord charges gst @ 18%, pass combained entry with service tax and tds
3 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14880 Points)
Replied 21 October 2021
Booking entry
Rent A/c Dr
CGST A/c Dr
SGST A/c Dr
To Land Lord A/c Cr
To TDS on Rent. A/c Cr
( Being rent payable after deduction of TDS )
When you pay rent to Land Lord
Land Lord A/c Dr
To Bank A/c Cr
( Rent paid after deduction of TDS )
When you pay TDS deducted to GOVT account .
TDS on rent A/c Dr
To Bank A/c Cr
( TDS on rent paid to GOVT account )
Rent A/c Dr
CGST A/c Dr
SGST A/c Dr
To Land Lord A/c Cr
To TDS on Rent. A/c Cr
( Being rent payable after deduction of TDS )
When you pay rent to Land Lord
Land Lord A/c Dr
To Bank A/c Cr
( Rent paid after deduction of TDS )
When you pay TDS deducted to GOVT account .
TDS on rent A/c Dr
To Bank A/c Cr
( TDS on rent paid to GOVT account )
prasad Nilugal
(3924 Points)
Replied 21 October 2021
I hope you have carried forward Rent payable from Jan 19 in Balance sheet of 19-20 , 20-21 and paid this year 21-22 . please correct Rent payable account Will be debited instead of Rent account in my first entry.
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