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Accounting of security deposit for new connection collected by a Gas Agency
Dealer is a Gas Agency. He collects security deposit from a customer while issuing a new gas connection. This deposit is collected on behalf of a Gas company like BPCL. The gas agency should remit the deposit to Gas company. In this case whether the Gas Agency is required to issue bill (tax invoice) or only receipt for amount collected to the new customer?
Replies (2)
The security deposit collected usually will be refunded back to customer if he don't want gas connection anymore.
No need to issue tax Invoice in case the security deposit will be refunded and not adjusted to gas supply charges finally.
No need to issue tax Invoice in case the security deposit will be refunded and not adjusted to gas supply charges finally.
How to book security deposit received in dealer's account on behalf of Bharatgas ?????
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