Carriage inward Accounting entries
This query is : Resolved
karthikrao
(Querist)
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
(Expert)
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
In that case you can debit Cash/Bank as the case may be and Credit Carriage Inward
karthikrao
(Querist)
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
(Querist)
08 August 2017
Accounting entries for freight charges Consignment party with GST registered party and unregistered Consignment party.
Amol S Joglekar
(Expert)
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
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
(Querist)
08 August 2017
thanks sir
Amol S Joglekar
(Expert)
08 August 2017
you are most welcome......
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