Example 3, No TDS
Payment Made in Advance
The Company entered into connect with Max Ltd on 25 April for 100,000+ GST 18%
Whole amount paid in advance on that date to Max Ltd
Bill Received on 10th June from Max for Consultancy Service
Pass Entries assuming no TDS
View answer
There can be 2 Cases
Our Company is taking Input of GST (We are Service Providers registered in GST)
Our Company is not taking Input of GST tax as we are not registered in GST
Entry is different in both cases as shown below
Example 4 with Tds
Pass Entry in Example 3 assuming TDS is applicable
View answer
Entry is different in both cases as shown below