Accounting enrtries for travel agents

Dear sir, please help me for following querries:

1) I am a non IATA Travel Agent and am buying Air tickets from other IATA and non IATA agents and consolidators and also do hotel bookings and packages from them. My main source of income is commissions received from them including a deduction of 18 %  GST and TDS @ 10% on Commission.

My main query is how to pass Accounting entries for the same in case of Recpts

For Example: The bill consist of detail as under

eg. Ticket Amount Rs.50,000

Add: Service Fee: 100

Add: GST @ 18% - 18

Total : 50,118

 

And Same Example in Booking of Air Tickets from IATA Agents:

Ticket Amount: Rs. 50,000

Less: Commission of 5% on Basic Fare of 30,000 = Rs.1500

Add: 18% GST on Commission: Rs. 270 

Add: TDS on Commission: Rs. 123

Total Amount Payable to IATA Agent:: Rs. 48893

From the above example of 50,000 my nett income is only 1207

Pls advise what entries should be pass in my Accounts.

Replies (2)
Ledger Dr Cr
TDS on Commission               123.00  
Customer         50,118.00  
IATA      48,353.00
Service Charges            100.00
IATA Commission        1,500.00
GST Payable            288.00
          50,241.00    50,241.00

Can you please clarify how you calculated 48,353/- (IATA)? 

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