Ecommerce operator and eualisation levy

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ARTICLE
752 Points Posted on 02 May 2021
suppose, mr A is ecommerce operator...mr B purchased goods online of rs 200000.

in the books of ecommerce operator mr A accounting entry will be...
bank account dr 196000
eualisation levy ac dr 4000
to sales account 200000

in the books of buyer mr B ....

purchase account dr 200000
to bank account 200000

is it correct????
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On 02 May 2021 at 10:30 Report
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Quick Summary
This discussion clarifies the accounting treatment for an ecommerce operator when a customer makes a purchase. It outlines the journal entry for the operator, including the booking of the Equalisation Levy. The buyer's accounting entry for the purchase is also confirmed.

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Chartered Accountant
24588 Points Posted on 02 May 2021
Yes you're right
1 Reply
On 02 May 2021 at 10:50
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ARTICLE
752 Points Posted on 02 May 2021
Ok...thanks
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On 02 May 2021 at 13:39
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Chartered Accountant
24588 Points Posted on 02 May 2021
Your welcome
1 Reply
On 02 May 2021 at 14:10

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