06 January 2018
Dear If advance receipt against 18% GST sale is Rs. 100,000/-. Sir whether advance receipt amount is inclusive of 18% gst. plz advice thnks n advance
06 January 2018
Yes... Inclusive of GST...
If you received Rs. 50k and GST rate @ 18% then you ll be pay Tax as
Rs. 42373 * 18% = 7627...(IGST or CGST and SGST)
07 January 2018
Respected Sir Whether below mentioned journal entry required to do for above answer Bank a/c Dr 50000/- to Party cr 42373/- to IGST cr 7627/-
CAclubindia
