Entries for TDS Receivable and Payable (With GST)

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Entries for TDS Receivable and Payable Example 1 With GST Suppose Max Provided Consultancy Service to ABC For 40000+18% GST on 10 Apr ABC Deducted and Deposited 10% TDS on 7 May ABC Paid Max 43200 on 15 June Entries in Books of Max Entries in Books of ABC ABC To Consultancy Income 47200 40000 Bank To ABC 43200 43200 TDS Receivable To ABC 4000 4000 10 Apr Consultancy Exp To Max To TDS Payable 40000 43200 4000 07 May TDS To Bank 4000 4000 15 Jun Max To Bank 43200 43200 To Output CGST To Output SGST 3600 3600 Input CGST Input SGST 3600 3600 If TDS @10% Max ABC Bill consultancy Rs 47,200 Cheque Rs 43,200 TDS Deposit 4000 teachoo.com