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RENT ENTRY..IN GST...AND TDS..

40920 views 11 replies

PANKAJ BHATI

accountant

68 Points Posted on 10 March 2018

i want to..rent paid entry..if someone paid 1lakh rent mothly..how will treat in tally..kindly..updates..

Replies (11)

Quick Summary

Monthly rent entries in Tally should record rent expense, GST input credit if applicable, and TDS payable separately. GST on commercial rent is generally 18%, while TDS is deducted only on the rent amount excluding GST, subject to TDS provisions.

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 10 March 2018

Journal :

Dr. Rent Paid / Payable A/c - Rs. 100000
Cr. Landlord A/c - Rs. 100,000....

Dr. Landlord A/c - Rs. 10,000
Cr. TDS Payable A/c - Rs. 10,000

Payment :
Dr. Landlord A/c - Rs. 90,000
Cr. Bank A/c - Rs. 90,000....

TDS Payment :
Dr. TDS Patable A/c - Rs. 10,000
Cr. Bank A/c - Rs. 10,000....

Aashish Sachdeva

839 Points Posted on 10 March 2018

Journal
Rent A/c Dr. 100000
To Party 90000
To Tds payable 10000

Party A/c Dr. 90000
To Bank 90000

Tds payable A/c Dr 10000
To Bank. 10000

Its my personal opinion, if anybody have different view then views are welcome. thanks. DISCLAIMER:ITS NOT PROFESSIONAL ADVICE.

PANKAJ BHATI

accountant

68 Points Posted on 10 March 2018

sir ismain gst ka koi role nhi hai

Aashish Sachdeva

839 Points Posted on 10 March 2018

if opposite party charge gst then gst is used as input credit....

Rent A/c Dr.
GST A/c Dr.
To party
To TDS

As per my personal opinion, if anybody have different view then views are welcome.thanks. Disclaimer: it is not Professional Advice.

PANKAJ BHATI

accountant

68 Points Posted on 10 March 2018

and sir gst kis rate se charge hoga..

Aashish Sachdeva

839 Points Posted on 10 March 2018

sir vo kaam opposite party ka hai dont worry

PANKAJ BHATI

accountant

68 Points Posted on 10 March 2018

ok thank u so much.

sir..

Chandra Sekhar

Qualified Chartered Accountant

6 Points Posted on 25 March 2019

Journal Entry

Dr Rent A/c 1,00,000

Dr Input CGST 9,000

Dr Input SGST 9,000

Cr Landlord A/c 1,18,000

Payment

Dr landlord A/c 1,18,000

Cr Bank A/c 1,18,000

And you can set off the Input CGST and Input SGST wile paying output CGST and SGST respectively.

shahyar husain

1240 Points Posted on 06 November 2020

Originally posted by : Chandra Sekhar
	Journal Entry Dr Rent A/c 1,00,000 Dr Input CGST 9,000 Dr Input SGST 9,000 Cr Landlord A/c 1,18,000 Payment Dr landlord A/c 1,18,000 Cr Bank A/c 1,18,000 And you can set off the Input CGST and Input SGST wile paying output CGST and SGST respectively.

Can I deduct TDS with rent on GST?

Mani Sharma

2 Points Posted on 13 December 2020

BOOK ENTRY

RENT AC DR 100000

IGST DR 18000

TDS ON RENT CR 10000

PARTY A/C 108000

PAYMENT ENTRY

PARTY A/C DR. 108000

TDS A/C 10000

TO BANK 118000

M Venkat

CA finalist

456 Points Posted on 08 January 2021

Originally posted by : shahyar husain
	Originally posted by : Chandra Sekhar Journal Entry Dr Rent A/c 1,00,000 Dr Input CGST 9,000 Dr Input SGST 9,000 Cr Landlord A/c 1,18,000 Payment Dr landlord A/c 1,18,000 Cr Bank A/c 1,18,000 And you can set off the Input CGST and Input SGST wile paying output CGST and SGST respectively. Can I deduct TDS with rent on GST?