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COMPOSITION TAX ENTRY ?


anmol vashisht   22 August 2019

anmol vashisht

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what is the journal entry of tax paid under composition scheme ?

avater

Akshay Jain (B. Com)     22 August 2019

Akshay Jain
B. Com 
 54 likes  932 points

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CGST 1% A/c Dr.
SGST 1% A/c Dr
To Cash / Bank A/c or GST Payable A/c

Rate applicability depends upon your eligibility
Trader 1%
Manufacturer 3%
Restaurants,Etc. 6%


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