Carriage inward Accounting entries

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karthikrao (Querist)
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07 August 2017 suppose receive carriage inward or freight charges from unregistered dealer for RS.3000 what is the accounting entry in tally under GST and same we received from registered dealer what will be accounting entry

Amol S Joglekar

Amol S Joglekar (Expert)
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08 August 2017 Receive carriage inward???? is it reimbursed or what?
In that case you can debit Cash/Bank as the case may be and Credit Carriage Inward

karthikrao

karthikrao (Querist)
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08 August 2017 Sir freight charges/carriage inward bill from consignment party.It is a Textile company receive bundles from party.my doubt is suppose it is registered gst consgn pary

karthikrao

karthikrao (Querist)
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08 August 2017 Accounting entries for freight charges Consignment party with GST registered party and unregistered Consignment party.

Amol S Joglekar

Amol S Joglekar (Expert)
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08 August 2017 The distinction be made if GST is levied on freight charges by the Input supplier.
If yes, then you can
debit purchase
debit freight charges
debit input gst
credit input supplier
If NO,
debit freight charges
credit input supplier followed by the entry for RCM, if any
debit Input Gst
credit RCM payable
and then at the time of payment
debit RCM payable
credit cash/bank as the case may be

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karthikrao

karthikrao (Querist)
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08 August 2017 thanks sir

Amol S Joglekar

Amol S Joglekar (Expert)
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08 August 2017 you are most welcome......

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