GST REVERSE CHARGE

This query is : Resolved

P. SHARMA (Querist)
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27 April 2020 XYZ raise the bill to ABC Amount of Rs 22500/- . SGST Rate 5% , CGST Rate 5%.

How I calculate the GST under Reverse Charge Method.

What will be the accounting entry.

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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05 May 2020 You have to calculate the Reverse Charge on total amount incld GST. i.e, Reverse Charge GST @ 12% x Rs. 22,500/- = Total GST @ 12% Rs. 2700 (CGST Rs. 1350 & SGST Rs. 1350)

Purchase A/c Dr. 22,500/-
CGST Input @ 6% Dr. 1350/-
SGST Input @ 6% Dr. 1350/-
CGST @ 6% Payable - Cr. 1350/-
SGST @ 6% Payable - Cr. 1350/-
Accounts Payable / Bank / Cash Account - Cr. 22,500/-

Hope it is clear now...

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