We have received an GST Invoice of Rs.50000 from our port custom clearing agent.
Hor to make entry for it with TDS ???
Menu
Professional fees
Replies (5)
Is the value including GST...?
Journal Entry
Expenses A/C Dr.
GST ITC Receivables A/C Dr.
To TDS Deductible A/C
To Clearing Agent A/C
Expenses A/C Dr.
GST ITC Receivables A/C Dr.
To TDS Deductible A/C
To Clearing Agent A/C
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??
Yes Sir, This 50000 is total amount of Invoice..
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.
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.
Recent Topic
- INCOME FROM CLOSING OF NSS -1992 -EXEMPT UNDER W
- GPF AND COMMUTED PENSION RECEIVED
- How do I choose the correct trademark class? Can I
- Error in totalling salary amount in AIS
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
Related Topics
CAclubindia
