Interest on late payment of duties

Tax queries 1062 views 2 replies

What entry should be passed for Interest accrued on late payment of sales tax

Replies (2)

intrest on sales tax a/c             Dr.

      To sales tax a/c

The entry willbe

Interest on Sale Tax A/c             Dr.

                 To Sales Tax Payable A/c


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register