Professional fees


Vimarsh Patel   04 September 2019

Vimarsh Patel

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

Hor to make entry for it with TDS ???

 

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

RAJA P M
"Do the Right Thing...!!!" 
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Is the value including GST...?

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Chirag Tandon   04 September 2019

Chirag Tandon

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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

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Vimarsh Patel   08 September 2019

Vimarsh Patel

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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??

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Vimarsh Patel   08 September 2019

Vimarsh Patel

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

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sabyasachi mukherjee   16 September 2019

sabyasachi mukherjee

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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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