Sale donation
SUMIT BADYAL (709 Points)
20 May 2021
hi, if we want to donate one day sale to covid relief, how it should be treated in our accounting books.
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 20 May 2021
Please elaborate in details
SUMIT BADYAL
(709 Points)
Replied 20 May 2021
The company decided that we donate all one-day online sale amount to covid relief foundation.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 20 May 2021
Then the donation should not be recorded as revenue by the company. It will be treated as Donation given in P&L or in Balance sheet. It should be treated as expenses
tushar
(student)
(30 Points)
Replied 22 May 2021
Gst portion is not part of sales revenue , it's your liability to be deposited in government account. so it can't be donated.
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