IGST interest and Penalty Entries
Kishore Nuthalapati (Accountant for multiple small entities) (151 Points)
03 December 2022Could some one please advise on how to pass IGST interest and late fee entries for a month
Thanks in advance
Kishore Nuthalapati (Accountant for multiple small entities) (151 Points)
03 December 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 03 December 2022
First you will prepare challan and transfer the Interest and late fees payable through Bank to Electronic Cash Ledger from Bank account .so entry will be
1) Electronic Cash Ledger A/c Dr
To Bank A/c Cr
( Money transfer )
2) IGST Interest. A/c Dr
IGST Late fees A/c Dr
To Electronic Cash Ledger A/c Cr
( Interest and Late fees on IGST paid through ECL )
Kishore Nuthalapati
(Accountant for multiple small entities)
(151 Points)
Replied 04 December 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 04 December 2022
Kishore Nuthalapati
(Accountant for multiple small entities)
(151 Points)
Replied 04 December 2022
Live class on PF & ESI Enrollment & Returns Filing(with recording)