Accounting entry of POS transaction

 Day by day you have to credit those customers who made those transactions .............. Dr. to gst ( cgst & sgst ) ........... ................ like if any customer transfers via pos to your account ....you may have to credit such an amount ( 164700 ) & dr. to gst & charges if any .  

Do you want to ask about payment entry or receipt entry ????

You have to pass two separate entries for receipt of fees and payment of MDR expenses

1) School fees Collected in POS Marchant Machine and deposited in your Bank .( receipt entry)

Bank A/c Dr. 162226.76
To Tution fees A/c Cr 162226.76
( Tution fees Collected )

Tution fees Collected Transfer to Income & Expenditure Account entry

Tution fees. A/c Dr 
To Income & Expenditure A/c
( Transfer entry)

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2) MDR expenses A/c Dr
    CGST A/c Dr
    SGST. A/c Dr
    To POS Marchant A/c Cr . 2473.24
( MDR expenses booking entry after receipt of Invoice from Marchant for using PO Machine)


POS Marchant A/c Dr   2473.24
To Bank A/c Cr                             2473.24
( payment entry of MDR Expenses)

Your school has to take Invoice from Marchant for MDR charges +GST

Yup nice one. I don't school and hospital nor trust accounting.