Accounting entries for reverse charge mechanism

gupta (Accountant) (305 Points)

03 June 2015  

Can anybody help me out what will be accounting entries on ST reverse charge mechanism :-

Example :- We have paid ST for Rs.120000/-( including sercharges) on the bill of our consultant ( who is a foreigner - that why we are paying ST on his behalf according to ST rules ) and we will take credit the input of the same amount.

And how to show it in ST-3 

 

Regards

Jayanta