GST TCS on Customer Payments

GST TCS can be liable on cash or bank payment from customer. The GST TCS entries which are not reversed will be part of settlement. Business user can reverse the GST TCS entries before settlement is posted. The GST TCS entries which have Credit Availed field 'TRUE' will be shown on settlement page. User can manually enter amount in GST TCS Credit Utilized field for utilizing against the liability.

1. Choose the icon, enter Bank Receipt Voucher or Cash Receipt Voucher, and then choose the related link.

2. Fill in the fields as described on Bank Receipt Voucher or Cash Receipt Voucher.

   Field	Description
   Posting Date	Specify the posting date of the document.
   Document Type	Specify as 'Payment'
   Account Type	Specify as 'Customer'
   Account No.	Select the relevant customer code.
   Amount	Specify the amount.
   Bal. Account Type	Specify G/L Account or Bank Account.
   Location Code	Specify the relevant location code.
   GST TCS State Code	Specify the relevant state code.
   GST TDS/TCS Base Amount	Specify the GST TCS calculation base amount.
   GST TCS	Mark this field as True.

For example, INR 1000 paid by the customer and 1% GST TCS (0.50% CGST, 0.50% SGST for Intra-State or Intra-Union Territory and 1% IGST for Inter State) has to be charged on the payment amount.

• GST Calculation will appear in the Fact Box on Bank or Cash Receipt Voucher, as following:

  Component	Amount
  Payment Amount	1000
  GST Transactional Value	1,000
  CGST Amount	5
  SGST Amount	5
  IGST Amount	10

• On posting of voucher for GST TCS - Intrastate Transaction, GL Entries will be as following:

  Particulars	Amount
  Customer Account	-1000
  CGST TCS Receivable Account	5
  SGST/UTGST TCS Receivable Account	5
  Bank Account	990

• On posting of voucher for GST TCS - Interstate Transaction, GL Entries will be as following:

  Particulars	Amount
  Customer Account	-1000
  IGST TCS Receivable Account	10
  Bank Account	990

GST TDS on customer payment

GST TDS is applicable for Registered Customers. User can calculate GST TDS on cash or bank payment from customer, user needs to enter GST TDS/TCS Base Amount manually for calculating GST TDS.

A provision for updating GST TDS certificate details is available under Financial Management > Periodic Activities > GST > Task: Update GST TDS Certificate Dtl. The GST TDS entries against which the certificate is received will be a part of GST settlement.

User can reverse the GST TDS entries before certificate is received. An additional option has been provided to user to modify GST TDS Certificate Details. The GST TDS Credit received will be shown on settlement page.

User can manually enter amount in GST TDS Credit Utilized field for utilizing against the liability.

1. Choose the icon, enter Bank Receipt Voucher or Cash Receipt Voucher, and then choose the related link.

2. Fill in the fields as described on Bank Receipt Voucher or Cash Receipt Voucher.

   Field	Description
   Posting Date	Specify the posting date of the document.
   Document Type	Specify as 'Payment'
   Account Type	Specify as 'Customer'
   Account No.	Select the relevant customer code.
   Amount	Specify the amount.
   Bal. Account Type	Specify G/L Account or Bank Account.
   Location Code	Specify the relevant location code.
   GST TDS/TCS State Code	Specify the relevant state code.
   GST TDS/TCS Base Amount	Specify the GST TCS calculation base amount.
   GST TDS	Mark this field as True.

For example, INR 1000 received from customer and 2% GST TDS (1% CGST, 1% SGST for Intra-State or Intra-Union Territory and 2% IGST for Inter State) has to be charged.

• GST calculation will appear in the Fact Box on Cash or Bank Receipt Voucher, as following:

  Component	Amount
  Payment Amount	1000
  GST Transactional Value	1,000
  CGST Amount	10
  SGST Amount	10
  IGST Amount	20

• On posting of voucher for GST TDS - Intrastate Transaction, GL Entries will be as following:

  Particulars	Amount
  Customer Account	-1000
  CGST TDS Receivable Account	10
  SGST/UTGST TDS Receivable Account	10
  Bank Account	980

• On posting of voucher for GST TDS - Interstate Transaction, GL Entries will be as following:

  Particulars	Amount
  Customer Account	-1000
  IGST TDS Receivable Account	20
  Bank Account	980

See Also

GST Credit and Liability Adjustment

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