hey ,
help me with the scenario mentioned below.
1. Taxable value 4,23,729 + GST 76,271 total value of 5,00,000
Now my client filed GSTR 7 I.e TDS on GST as 2% on total value 5,00,000 instead of 4,23,729 .. is it okay for us to incorporate the same in tally ?..
but there will be an mismatch right ?
guide me , thanks in advance
5 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 23 April 2021
TDS should be deducted on gross value i.e, 423729
18E0343 V Pradhish
(243 Points)
Replied 23 April 2021
Sir , actually I knew that
but they deducted and filed by calculating in Net value.
I don't know whether to claim or not .
by saying that you've filed wrongly , client says like pass the journal entry as per amount filed by them.
but they deducted and filed by calculating in Net value.
I don't know whether to claim or not .
by saying that you've filed wrongly , client says like pass the journal entry as per amount filed by them.
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 23 April 2021
No, client is wrong, you should pass journal entry on gross value
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