We know that Sales Entry is of Form

Entry for Sales
Party Dr 100000
To Sales 100000

Amount Received
Bank Dr 100000
To Party 100000

In this case,TCS will be Credited in entry which happens first

Case 1
Suppose A makes Sale of 100000 to B on 10 June
Amount received by A from B on 16 July
Pass Entry

View Answer
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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 14 years. He also provides Accounts Tax GST Training in Delhi, Kerala and online.