Factory Fee Entry

what will be entry in tally for
amount paid towards Factory license Renewal fee ??
Replies (2)
Quick Summary
This discussion explains how to record factory license renewal fees in Tally. It provides two accounting entries: one for when CGST and SGST are charged on the fee, and another for when no GST is applied. The entries detail debiting the expense and relevant tax accounts, and crediting cash or bank.

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

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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