mobile company issuing invoice of e-recharge as below:
mrp rs.100
basic amount 81.36
cgst. 7.32
sgst. 7.32
total invoice amt 96.00
TDs on margin(5% on rs 4):0.20
total amt debited 96.20
now we have to sale it at the price rs. 97.00 including gst
now my quries are-
1. how to make book entries?
2. is there any gst liability on margin of rs 4 on? company deducting TDS if yes then who will pay gst?
3. in the same way do we have to deduct TDS from retailers on their margin of Rs.3.00 if he crosses the commission limit of rs.15000 in a F.Y. under section 194H.
4. how to show this rs 4 margin in our books?
5. why company deducting TDs on margin?
thnx
arun
CAclubindia
