let supposed audit fees provision is to be made for 100000 For FY 2022-23. Now I received an invoice from CA says 150000 including GST amount dated 10th September 2023.
at the time final accounts for 2022-23 how to be record proper journal entry in books and how to claim gst for the invoice received. and how to adjust difference between provion amount and actual invoice amount. On which date and ant tds 194j apply
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Journal entry Account
Replies (3)
Quick Summary
Take proforma invoice from Auditor without GST and account it accordingly..
This is wrong practice to consider it in 2022-23 FY.
Audit starts only after March and audit work commencement and completion will be in after March .
Hence provision is not required for future work.
If the audit is already started then only provision is required.
This is wrong practice to consider it in 2022-23 FY.
Audit starts only after March and audit work commencement and completion will be in after March .
Hence provision is not required for future work.
If the audit is already started then only provision is required.
On 31st Mar:
Record two entries for provision - fees component and GST component.
Deduct TDS on the fees component.
On invoicing - reverse the provision and take ITC.
Proforma invoice can be accounted without GST
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