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GST Entries

This query is : Resolved 

Would some one suggest me the method of passing journal entries - in relation to RCM, RCM is eligble for availment of input. Kindly give illustrations also. A known person suggested the entries, but I am not satisfied with the same. Hence posted in this forum

Debit GST ITC claimable RCM
Credit bank.

select Increased GST Liability option in your software
Input IGST 100
Input CGST 1400
Input CGST 1400

IGST on Reverse Charges (Freight) 100
CGST on Reverse Charges (Freight) 200
SGST on Reverse Charges (Freight) 200
CGST on Reverse Charges (Prof) 1200
SGST on Reverse Charges (Prof) 1200
Being amount of RCM Liability created




IGST on Reverse Charges (Freight) 100
CGST on Reverse Charges (Freight) 200
SGST on Reverse Charges (Freight) 200
CGST on Reverse Charges (Prof) 1200
SGST on Reverse Charges (Prof) 1200
Bank A/c 2900
Being amount Paid RCM

I am very much thankful to you



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