Journal Entries

sayad (Executive) (179 Points)

22 October 2020  



I am Small Civil Contractor . Can someone help me with Jornal Entries

1 } for work executed for Goverment  work  i receive payment after deduction of the following 

     GST / Security Depodit /  Labour Cess / TDS

for Ex   50000 Rs   GST 12 % 6000 = 56000 Total  Deduction  Security Deposit  6000  labour Cess 500   GTS 2 %  TDS 2 % 

what Journal i sud pass when i get the work with about charges and when i recieve money after above deduction 


and sometimes i keep EMD and i get refund from Goverment when i dont get tender 

what entry to pass for EMD deposit paymnet to goverment and for refund

and Advance received from the customer and adjustment after making final bill to the customer which includes TDS