Factory Fee Entry

RAMIZ MALEK (ACCOUNTANT) (45 Points)

26 August 2020

what will be entry in tally for
amount paid towards Factory license Renewal fee ??

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2 Replies

prasad Nilugal (3914 Points)
Replied 26 August 2020

They have charged CGST & SGST no factory license or not ?.

prasad Nilugal ( GST Practitioner & Accounts ) (14167 Points)
Replied 26 August 2020

If they have charged CGST & SGST then entry will be

1) Factory license Renewal Expense A/c Dr

CGST A/c Dr

SGST A/c Dr

To Cash / Bank A/c Cr

( Expense for Renewal of Factory license , Cheque No ... dated ... )

If not charged then entry will be

2) Factory license Renewal Expense A/c Dr

To Cash / Bank A/c Cr

( Narration as above )

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