Reverse charge entry in tally

vinay (Trainee CMA) (238 Points)

13 August 2023

Hi am paying transporting charges inward for which reverse charge @ 5 % is applicable. Please let me know jounal entries to be made in tally

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4 Replies

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 13 August 2023

Transport Charges A/c Dr
To Transporter

Transporter A/c Dr
To Bank

GST under RCM A/c
To Bank

sabyasachi mukherjee (26215 Points)
Replied 14 August 2023

Gst under rcm to be separately charged.

Eswar Reddy S (CFO- at NHTF) (58213 Points)
Replied 14 August 2023

Query is about RCM on inward supply and not about sale

sabyasachi mukherjee (26215 Points)
Replied 16 August 2023

Rcm does not define under any ACT.

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