| |
Rs |
Rs |
| Goods Sold |
1,10,000.00 |
1,10,000.00 |
| (-)Discount |
-10,000.00 |
-10,000.00 |
| Taxable Value [Sales] |
1,00,000.00 |
1,00,000.00 |
| GST@18% |
18,000.00 |
18,000.00 |
| Value Including GST |
1,18,000.00 |
1,18,000.00 |
| TCS@0.1% on Value including GST |
118.00 |
– |
| TOTAL INVOICE VALUE |
1,18,118.00 |
1,18,000.00 |
| TDS@0.1% on Taxable Value |
– |
100.00 |
| |
|
|
| Amount Collected By Seller from Buyer |
1,18,118.00 |
1,17,900.00 |
| TCS paid by seller on behalf of buyer to GOVT |
-118.00 |
|
| TDS paid by buyer on behalf of Seller to GOVT |
– |
100.00 |
| GROSS SALE TO SELLER |
1,18,000.00 |
1,18,000.00 |
| |
|
|
| Journal Entries |
|
|
| At the time of Invoice |
|
|
| Buyer A/c Dr |
1,18,118.00 |
|
| Sales A/c Cr |
1,00,000.00 |
|
| GST A/c Cr |
18,000.00 |
|
| TCS u/s 206C [1H] @0.1% Cr |
118.00 |
|
| |
|
|
| Purchase A/c Dr |
|
1,00,000.00 |
| GST A/c Dr |
|
18,000.00 |
| Seller A/c Cr |
|
1,17,900.00 |
| TDS u/s 194Q @0.1% Cr |
|
100.00 |
| |
|
|
| Advance Payment |
|
|
| Cash/Bank A/c Dr |
1,18,118.00 |
|
| Buyer A/c Cr |
1,18,000.00 |
|
| TCS u/s 206C [1H] @0.1% Cr |
118.00 |
|
| |
|
|
| Seller A/c Dr |
|
1,18,000.00 |
| Cash/Bank Cr |
|
1,17,900.00 |
| TDS u/s 194Q @0.1% Cr |
|
100.00 |
| |
|
|
| At the time of TDS/TCS Payment |
|
|
| TCS u/s 206C [1H] @0.1% Dr |
118.00 |
|
| Cash/Bank Cr |
118.00 |
|
| |
|
|
| TDS u/s 194Q @0.1% Dr |
|
100.00 |
| Cash/Bank Cr |
|
100.00 |
