DR (Debit) Cash/bank/credit card | 10,700 |
CR (Credit) Sales | 10,000 |
CR GST Output tax | 700 |
DR Purchases | 10,000 |
DR GST Input | 700 |
CR AP – Seller (supplier) | 10,700 |
DR Purchases | 10,000 |
CR AP – Seller (supplier) | 10,000 |
DR Cash/bank/credit card | 10,700 |
CR Sales | 10,000 |
CR GST Output tax | 700 |
DR Commission | 2,500 |
DR GST Input tax | 175 |
CR Trade Payables | 2,675 |
DR Cash/bank/credit card | 10,000 |
CR Sales | 10,000 |
DR Commission | 2,675 |
CR Trade Payables | 2,675 |
Amount before GST | GST | Amount after GST | Remarks (in the books of GST registered marketplace seller) | |
---|---|---|---|---|
Revenue | 10,000.00 | 700.00 | 10,700.00 | Output GST |
Storage fee | -100.00 | -7.00 | -107.00 | Input GST |
Sales commission fee | -2,500.00 | -175.00 | -2,675.00 | Input GST |
Picking fee | -100.00 | -7.00 | -107.00 | Input GST |
Returns | 10.00 | 0.70 | 10.70 | Offset with Output GST |
Returns commission fee | 3.00 | 0.21 | 3.21 | Offset with Input GST |