AMAZON SALE

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accountant GST
40 Points Posted on 10 May 2021

HI

we are selling our product on amazon, Amazon charge tcs from us which we claim in GST. amazon issue bills on our behalf

1. do i need to enter every single bill in books or i can enter state-wise sale from merchant tax reports?

2. how to tcs (gst) entry in books?

3. should i enter cancelled bills as well?

4. Amazon deduct TDS also (income tax) , we dr the tds and credit amazon (with tds amount) is it right or wrong?

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On 10 May 2021 at 16:11 Report
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Quick Summary
This discussion addresses common accounting queries for sellers on Amazon, focusing on TCS and TDS. It explores whether to book individual Amazon bills or summarise state-wise sales, how to correctly account for TCS as GST credit, and the treatment of cancelled bills. It also clarifies the correct procedure for booking TDS deductions made by Amazon.

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Professional
1149 Points Posted on 11 May 2021
It's recommended that you keep bill wise reports ,

TCS if available as credit then same as like input GST ,

cancelled bill ( Cancellation ) then for same month no need it except for reversal of GST if entered in record ,

Best way is to Give Dr To customer first the credit with Amazon and then credit amazon account with all debits ,(Comission /Logistics/TCS/TDS/Input GST on Comission and Logistics )
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On 11 May 2021 at 07:08
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accountant GST
40 Points Posted on 11 May 2021

Sir for the service charge they issue monthly invoice to us for listing charges, shipping etc. so amazon already credit with such amount

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On 11 May 2021 at 09:38

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