I am a consultant and provide services related to strategy building. One of my clients has deducted 2% GST TDS, What will be the accounting entry for GST TDS deducted? Also, How can I claim this deducted TDS?
6 Replies
jaheer hussain
(577 Points)
Replied 17 October 2019
You may ask tds certificate for itr return,
TDS receivables Dr
to sundry debtor CR
TDS receivables Dr
to sundry debtor CR
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 17 October 2019
Your client will be related to Government. Entry will Be as GST Input or It will be better to create a ledger in the name "GST-TDS".
You have to follow below steps to claiming this.
Login your GST>>Services>>Returns>>TDS and TCS credit received
Select all data and accept the same then filed.
However, There are no due date to file this. So, you can file anytime.
Deducted amount will show in your cash ledger after this process. Then you can take benefit of that amount as GST Input.
Kumar Sushank
(General Manager - Finance)
(1040 Points)
Replied 17 October 2019
@ Jaheer Hussain : She is asking for GST TDS.
Surjeet Negi
(947 Points)
Replied 02 November 2019
The GST tds would be available once you accept the same. it would get reflected in ECL.
subhagan sreerangam
(7054 Points)
Replied 03 November 2019
The GDt TDS would be available once you accept the same and it would get reflected in Electronic Cash Ledger.
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