hello good afternoon everyone
i am an accountant of a hospital.we are paying rent and security service charges to a party who has no gst registration...in this case should we pay gst to govt and how to pass journal entries please explain with the example ?pls reply thanks in advance
5 Replies
Sourav Dhir
(26 Points)
Replied 29 March 2023
Rent A/c
GST Receivables A/c
TDS Payable A/c
To Party A/c
To GST Payables A/c
( Same entry for Security Service Charges and the tax on both will be Paid under Reverse Charge Mechanism)
GST Receivables A/c
TDS Payable A/c
To Party A/c
To GST Payables A/c
( Same entry for Security Service Charges and the tax on both will be Paid under Reverse Charge Mechanism)
Gagan Kaushik
(96 Points)
Replied 30 March 2023
Sourav Dhir please give me an example with the amount and please explain every journal entries under which head is going in the balance sheet
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