Goods / Services acquired from a local Company 'X & Co' in Mumbai. ( CGST & SGST Charged)
However Payment terms states the Favoring Name as XY & Co, Head office in Delhi.
Can we make the payment for the same and if yes will this affect the GST credit eligibility.
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Impact on GST
Replies (23)
yes you can make to xy co on behalf of x co and it will not affect credit eligibility
agreed
catch over here is that...both have different GSTIN Nos.
Accounting Entry is also to be questioned
Accounting Entry is also to be questioned
in whose books
Accounting Entry in Our Books because both have different names too
nothing just debit x co and write in narration paid to xy co on behalf of x co
entry in your books doesn't change , it is same
x & co to bank , but get a confirmation letter from x & co regarding this transaction
x & co to bank , but get a confirmation letter from x & co regarding this transaction
no effect as per GST regarding payment
they know only what's your purchases and sales
GST won't bother about you received payment or not if you are not received payment loss is for you not to GST
GST won't bother about you received payment or not if you are not received payment loss is for you not to GST
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