E-commerce transaction

234 views 1 replies

Hi,

 

We are selling the products from E-bay so while we receive the order customer will pay the money to e-bay .

after 30 days we will receive the payments from e-bay after deducting their commission with GST.

in this senario how to i maintain my books of account..??

If we raise the invoice with E-bay that will be there under the B2B in GSTR-1 which is not correct.

 

Replies (1)
let start from beginning,

1) at the time of purchase of goods

Purchase A/C DR
GST Receivable A/C DR
To Bank

2) At the time of sales of goods

Trade Receivable A/C DR
To Sales
To GST payable

Commission A/C DR
GST receivable A/C DR
To E-commerce co.

3) At the time of collection

Bank A/C DR
E-commerce co. A/C DR
To Trade receivable


4) At the time of payment of GST

GST payable A/C DR
To GST receivable (at the time of sales)
To GST receivable (at the time of commission due)

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