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Submission of GSTR 3B monthly return for the months of February 2020, March 2020, April 2020

Ujjwal Mukhopadhyay -
Return Annual turnover in the previous Financial Year Months relating to Original due date Last date without late fee or interest, as applicable GSTR – 3B (Monthly) Less than Rs.1.5 crore February 2020 22nd# or 24th of next month## 30th Jun 2020^ March 2020 3rd Jul 2020^ April 2020 6th Jul 2020^ From Rs.1.5 crore to Rs.5 crore February 2020 22nd# or 24th of next month## 29th Jun 2020^ March 2020 29th Jun 2020^ April 2020 29th Jun 2020^ More than Rs.5 crore February 2020 20th Mar 2020 24th J...
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Accounting for turnover of travel agents and treatment of reimbursable expenses

Ujjwal Mukhopadhyay -
How to calculate turnover of travel agents and recognition of revenue to be made: Example:- 1. Receipt by travel agents of ₹ 11,090. The fare of train is ₹ 10,000 and GST on train fare @ 5% ₹ 500. Service Charge of the travel agent is ₹ 500 and GST @ 18% ₹ 90. Accounting: 1. ₹ 11,090 is to treated as advance from customer under current liabilities. 2. Payment of train fare of ₹ 10,500 to be shown as advance recoverable for cash or kind under current assets.(Note :1) 3. Adjustment of the above current assets and current liabilities should be squarred off by journal. 4. Service Charges of ₹ 500  to be shown as revenue. 5. GST of ₹ 90 is to kept under current liabilities as Output. Note: 1. GST Number of the person in whose name train ticket is booked, may be provided at booking time for the benefit of ITC of such person. Conclusion: To be eligible to treat the above payment of train fare not to be included in the turnover of the travel agent the following conditi...
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