CA AMIT SOMANI (Proprietor) (38 Points)
23 September 2016
Deepak Gupta
(CA Student)
(15922 Points)
Replied 23 September 2016
For example, the seller is doing e-commerce business via Snapdeal (Jasper Infotech Pvt. Ltd.):
1. When order is received on Snapdeal:
Dr. Buyer A/c
Cr. E-Commerce Sales
Cr. Applicable Taxes
2. For the aforesaid order, payment will be received from Snapdeal:
Dr. Jasper Infotech Pvt. Ltd.
Dr. Standard Marketing Fee
Dr. Payment Collection Fee
Dr. Logistic Fee
Cr. Buyer A/c
3. When payment is received in bank account from Snapdeal:
Dr. Bank Account
Cr. Jasper Infotech Pvt. Ltd.
4. When TDS is deducted by seller (if liable to deduct) on commission of Snapdeal:
Dr. Jasper Infotech Pvt. Ltd.
(Since commission is deducted by Snapdeal from the seller payout beforehand)
Cr. TDS Payable
5. After filing of TDS return you can claim the amount of TDS from Snapdeal by uploading the Form 16A in the Seller Panel.
6. The TDS claim, if found eligible, will be reimbursed to the seller along with the payout of the products, then:
Dr. Bank Account
Cr. Jasper Infotech Pvt. Ltd.
Usha Poojary
(Accounts Analyst)
(2 Points)
Replied 01 September 2021
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