Hi Sir/Madam
Could some one please advise on how to pass IGST interest and late fee entries for a month
Thanks in advance
First you will prepare challan and transfer the Interest and late fees payable through Bank to Electronic Cash Ledger from Bank account .so entry will be
1) Electronic Cash Ledger A/c Dr
To Bank A/c Cr
( Money transfer )
2) IGST Interest. A/c Dr
IGST Late fees A/c Dr
To Electronic Cash Ledger A/c Cr
( Interest and Late fees on IGST paid through ECL )
CAclubindia
