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Former Member

As per sale contract we have to impose penalty on agent now how entry will be passed in GST

Code Debit Credit
21 5000096 Navneet Lal Purshottam Das Sugar Agent A/c 17,110
50 32040103 Penalty Against Barg 14,500
50 16032061 CGST Payable Account 1,305
50 16032062 SGST Payable Account 1,305

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