Please pass the Journal Entry
BISWAJIT PRADHAN (243 Points)
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%.
BISWAJIT PRADHAN (243 Points)
18 August 2020
prasad Nilugal
( GST Practitioner & Accounts )
(14658 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 )
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
CAclubindia
