SUBVENTION INCOME

Rakesh R (Management trainee finance)   (21 Points)

29 May 2023  

I have raised invoice to customer for Rs 10000 inclusive of Gst (mobile sales). Received 1000 from customer as loan processing charge and the rest received from Bajaj finance. Now the party ledger is settled. While checking GsT 2 B they have raised invoice for 1000 as subvention income .Now Bajaj finance ledger will show a balance of 1000. This amount not need to pay to Bajaj Finance. Want to know how to enter in tally. Please help.