please help me on how to manage accounting entry with e-commerce business like snapdeal, flipkart etc., & how to manage vat tax & cst tax entry.
11 Replies
Ankush
(Student)
(1369 Points)
Replied 07 January 2015
Entries are to be done in regular manner like any other purchase or sale.
CA Pavan Talreja
(Practicing)
(90 Points)
Replied 07 January 2015
Do you mean to say, you raise an invoice to the customer, receive payment from Flipkart after deduction of comission?
I am assuming this, because some of my clients have asked me this question.
VIRAL
(Accountant)
(26 Points)
Replied 07 January 2015
| Originally posted by : VIRAL | ||
 |
please help me on how to manage accounting entry with e-commerce business like snapdeal, flipkart etc., & how to manage vat tax & cst tax entry. |  |
THANKS ANURAG, BUT I CONFUSED ABOUT INVOICE SHOULD MAKE ON FLIPKART OR FLIPKART BUYER NAME, & VAT OR CST ON FLIPKART OR FLIPKART BUYER
CA Pavan Talreja
(Practicing)
(90 Points)
Replied 07 January 2015
If you are using Tally, invoice should have Buyer's name and Party's name should be flipkart.
VAT and CST should be based on Buyer's address.
While posting entries for sales, Debtor would be Flipkart, however in the actual invoice you should have the Buyer's name.
VIRAL
(Accountant)
(26 Points)
Replied 07 January 2015
THANKS PAWAN, BUT I M NOT USING TALLY, I M USING PRIVATE SOFTWARE
CA Abhishek Pal
(Accounts Executive)
(81 Points)
Replied 07 January 2015
Then what about tds on commission in hand of flipkart since flipkart is earning commission income and customers are individuals and they are not liable to deduct tds ...pls clarify the same
CA Pavan Talreja
(Practicing)
(90 Points)
Replied 07 January 2015
For TDS, refer this below link of Flipkart's website.
They say, they will reimburse once you give them the TDS Certificate.
Pooja Yagnik
(Consultant)
(103 Points)
Replied 08 January 2015
Tds u/s 194H will be applicable for the amount paid to flipkart as a commission.. Not on other charges like courier and collection charges. If I am wrong then please correct me
CA Pavan Talreja
(Practicing)
(90 Points)
Replied 07 February 2015
Yes, you are right, 194H on Comission only, will be applicable.
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