About taxation
Question
Query related to Input tax credit in GST Regime :
If a mobile no. is in the name of a company and payment is also made by the co. but co. has given this no. to its employee till the employee works for this co. and has put a ceiling of Rs 350/- per month, i.e. if in any month the bill crosses Rs 350/-, suppose total bill amount is Rs 600/- then that extra amount (Rs 250/-) is deducted from employees salary. In this case, Mobile service provider levies GST on full bill amount of Rs 600/- but eligible ITC in this case is GST on Rs 350/-.
Now my question is, Mobile service provider in its GSTR1 will show GST Rs 108 (600*18%) against out GSTIN but we will show GST on purchase Rs 63 (350*18%) in GSTR 2. Will there be any problem or how to deal with this case. Please guide.
Regards,
Suraj
1. Advance salary paid to rahim
2. Receivable salary to be received by rahim
What will be the entry and adjustement at the end of the month.
2. Receivable salary to be received by rahim
What will be the entry and adjustement at the end of the month.
Kindly tell me, How to calculate input GsT. if there a purchase bill is 100000 without getting tax and it would be 128000 with 28present Gst. On which value input Gst should be taken on 100000 or 128000 at the time of calculation of net Gst payable on the amount
Sir why
Reverse charge exp Dr
To SGST output
To CGST output
In first cast no input available
Please explain this entry
Reverse charge exp Dr
To SGST output
To CGST output
In first cast no input available
Please explain this entry
journal entry
ABCD is a parellelogram in which AB=8cm, BC=12 cm, AO:AB=3:4 and BO:BC=2:3. Find AC and BD.
