Whole Payment in Advance

Last updated at Dec. 16, 2024 by

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

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Example 4 with Tds

Pass Entry in Example 3 assuming TDS is applicable

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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.