Breakage Claim - adjustment in books
This query is : Resolved
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Nisha Kathuria
(Querist)
29 May 2023
Dear Sir,
Some goods break on the way and its Value Rs.19400/- supplier credit Rs.19400/- to our account but no GST and no show same in GSTR-1 even no document send to us.Breakage Goods available in our store supplier have not pick up till date so in this case i have to reduce my purchase. Please suggest below entry in books of account is correct or wrong
Dr. ABC Supplier Rs.19400/-
Cr. Purchase account Rs.19400/- ( entry pass through Journal entry)
Some goods break on the way and its Value Rs.19400/- supplier credit Rs.19400/- to our account but no GST and no show same in GSTR-1 even no document send to us.Breakage Goods available in our store supplier have not pick up till date so in this case i have to reduce my purchase. Please suggest below entry in books of account is correct or wrong
Dr. ABC Supplier Rs.19400/-
Cr. Purchase account Rs.19400/- ( entry pass through Journal entry)
CA R SEETHARAMAN
(Expert)
29 May 2023
Check GST in credit note.
Message likes :
2 times
Nisha Kathuria
(Querist)
29 May 2023
No Sir, No Credit Note
CA R SEETHARAMAN
(Expert)
29 May 2023
Then pass journal entry as proposed.
Reverse ITC on breakeges.
Reverse ITC on breakeges.
Message likes :
2 times
Nisha Kathuria
(Querist)
29 May 2023
Thank you very much Sir,
Message likes :
1 times
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