Please pass the Journal Entry

18 August 2020

Rent Received or paid(each case) of Rs. 52,000 after TDS @ 10%, the bill value is 55,000 including GST @ 5%.

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prasad Nilugal ( GST Practitioner & Accounts ) (14801 Points)
Replied 18 August 2020

Rent paid ( commercial ) Booking entry

1) Rent A/c Dr

CGST A/c Dr

SGST A/c Dr

To Trade creditors A/c Cr

To TDS Payable A/c Cr

( Rent payable )

2) Payment entry

Trade Creditors A/c Dr

Bank A/c Cr

( Rent Paid Cheque No .....)

3) TDS payable A/c Dr

To Bank A/c Cr

( TDS deposited with bank )

Rent Received entry

2) Bank A/c Dr

TDS on Rent A/c Dr

To Trade Debtors A/c Cr

( Being rent received after deducting TDS )

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