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Professional fees


Vimarsh Patel   04 September 2019

Vimarsh Patel

 8 points

| My Other Post

We have received an GST Invoice of Rs.50000 from our port custom clearing agent.

Hor to make entry for it with TDS ???

 

avater

RAJA P M ("Do the Right Thing...!!!")     04 September 2019

RAJA P M
"Do the Right Thing...!!!" 
 8311 likes  113643 points

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Is the value including GST...?

avater

Chirag Tandon   04 September 2019

Chirag Tandon

 1 likes  19 points

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Journal Entry
Expenses A/C Dr.
GST ITC Receivables A/C Dr.
To TDS Deductible A/C
To Clearing Agent A/C

avater

Vimarsh Patel   08 September 2019

Vimarsh Patel

 8 points

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Should we deduct tds in invoice entry?? Coz if we do that then how can we reconsile the account?? Can't we do saperate entry for TDS??

avater

Vimarsh Patel   08 September 2019

Vimarsh Patel

 8 points

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Yes Sir, This 50000 is total amount of Invoice..

avater

sabyasachi mukherjee   16 September 2019

sabyasachi mukherjee

 115 likes  3183 points

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Pass this entry:
professional fees dr.
To A a/c
To tax liability a/c
on payment of the tax liabikity:
Tax Liability dr.
To Bank.cr.
On payment of professional fees:
A's A/c dr.
To Bank.


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