[Kristina39]

In Indian tax systems we have GST instead of VAT …

Usually when you sell a product , you receive the product amount + tax amount … from the buyer …

In TDS and RCM ,

I think you only get the product amount from the buyer … The buyer does not pay the tax amount of the product you sold …

he collects that tax amount and pays it to the government …

And that tax amount becomes a receivable amount in the company journal …

[Kristina39]

I think it is same as withholding tax …

is this a kind of amount that i am supposed to get , but not getting during delivering a product ?

[Kristina39]

@mrjonbain ,

Thanks for the reply .

There is only a little chance of me working as an accountant , but like you said , I like learning and understanding new things . 🙂

[Kristina39]

@mrjonbain ,

Thanks

Is this forum new ?

I only discovered the forum few days ago 🙂

[Kristina39]

@mrjonbain ,

I simply wrote this down because for me its easier to remember it that way 🙂

Thanks for the reply

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