Tally Vouchers Entry for Commission based services

To accurately record the corporate booking transaction in Tally Prime, follow these steps: Sales Entry for Corporate Booking 1. Create a sales ledger for the corporate booking (e.g., "ABC Company"). 2. Create a sales voucher for the hotel gross charges, including GST. - Debit: ABC Company (sales ledger) - Credit: Hotel Gross Charges (sales account) - GST: 12% of hotel gross charges Commission and GST on Commission 1. Create a ledger for MakeMyTrip (MMT) under Sundry Creditors. 2. Create a ledger for Commission Expenses under Indirect Expenses. 3. Create a ledger for GST on Commission under Duties & Taxes. 4. Pass a journal voucher to record the commission and GST on commission. - Debit: Commission Expenses (indirect expense) - Credit: MakeMyTrip (sundry creditor) - GST: 18% of commission (GST on commission ledger) TCS and TDS 1. Create ledgers for TCS and TDS under Duties & Taxes. 2. Pass a journal voucher to record the TCS and TDS. - Debit: MakeMyTrip (sundry creditor) - Credit: TCS (duties & taxes) - Credit: TDS (duties & taxes) Payment Entry 1. Pass a payment voucher to record the payment from MakeMyTrip to the hotel. - Debit: Bank/Cash (payment ledger) - Credit: MakeMyTrip (sundry creditor) GST ITC Claim Since MakeMyTrip has charged GST on the commission, you can claim Input Tax Credit (ITC) for the GST paid. To claim ITC, ensure you have: 1. A valid GST invoice from MakeMyTrip. 2. The GST amount paid on commission is reflected in the GSTR-2A. In Tally Prime, you can claim ITC by passing a journal voucher: - Debit: GST ITC (input tax credit ledger) - Credit: GST on Commission (duties & taxes) This will reflect the ITC claim in your GSTR-3B. Reporting in GSTR-1 and GSTR-3B Ensure that all the necessary tax-related details are reflected in GSTR-1 and GSTR-3B.