How to account for tds subtracted on suppliers invoice.

How to account for TDS subtracted on suppliers invoice?

How to create accounting entries once Tax is paid and wishes to be entered in books of account

 

Book Entry for 

Expenses   A/c     Dr

GST           A/c     Dr  (If GST Available on Invoice)

     To TDS                         A/c

      To Supplier                 A/C

 

After TDS Deposit 

TDS A/c Dr

    To Bank     A/c

 

 

 

 

  

First due entry
Expense.... Dr.
To Supplier A/c

Second entry

Supplier A/c... Dr.
To TDS Payable A/c (curr liability)
To Bank A/c (payment to supplier net of TDS)

Third

TDS Payable...Dr.
To Bank A/c