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Entries in Books of Collectee Case 1 First Goods Purchased, then Payment Made Case 2 Payment in Advance, then Goods Purchased Purchase Dr TCS Receivable Dr To Party 101000 1000 101000 Party To Bank 101000 101000 Party TCS Receivable To Bank 101000 1000 101000 TCS To Bank 101000 101000

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.