Dear Friends, please help me understand how GST will be collected on advance with the following example. (pls give the journal entry).
Advance- 100
Amount received- 90
TDS under income tax- 10
Applicable GST rate- 18%
Anu K S (Cleared CA Final) (195 Points)
25 December 2017Dear Friends, please help me understand how GST will be collected on advance with the following example. (pls give the journal entry).
Advance- 100
Amount received- 90
TDS under income tax- 10
Applicable GST rate- 18%
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(166256 Points)
Replied 25 December 2017
Though GST over advances over goods supply has been deferred till March, 2018; but for calculation purpose it is over Rs. 100/- i.e. Rs. 18/-
manisha
(cs)
(1118 Points)
Replied 25 December 2017
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