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AMAZON SALE

GURLEEN KAUR (accountant, GST) (45 Points)

10 May 2021

we are selling our product on amazon, Amazon charge tcs from us which we claim in GST. amazon issue bills on our behalf

1. do i need to enter every single bill in books or i can enter state-wise sale from merchant tax reports?

2. how to tcs (gst) entry in books?

3. should i enter cancelled bills as well?

4. Amazon deduct TDS also (income tax) , we dr the tds and credit amazon (with tds amount) is it right or wrong?

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2 Replies

Chirag (Professional) (1979 Points)
Replied 11 May 2021

It's recommended that you keep bill wise reports ,

TCS if available as credit then same as like input GST ,

cancelled bill ( Cancellation ) then for same month no need it except for reversal of GST if entered in record ,

Best way is to Give Dr To customer first the credit with Amazon and then credit amazon account with all debits ,(Comission /Logistics/TCS/TDS/Input GST on Comission and Logistics )