Journal entries on reversal charges(office rent)
This query is : Resolved
27 September 2017
Sir/Madam,
I need advice/suggestion in passing JV's on Reversal Charges(Office Rent) of GST. For instance we have liability on Reversal Charges 10000/-monthly(CGST 5000 & SGST 5000) how to make entry for the same and setoff Journal entries
Thanks in advance
Regards,
GURURAJ M
I need advice/suggestion in passing JV's on Reversal Charges(Office Rent) of GST. For instance we have liability on Reversal Charges 10000/-monthly(CGST 5000 & SGST 5000) how to make entry for the same and setoff Journal entries
Thanks in advance
Regards,
GURURAJ M
27 September 2017
> Liability creation for RCM
Debit GST-RCM-Deferred Input-CGST/SGST/IGST
Credit GST-RCM-Output-CGST/SGST/IGST
> Payment of RCM Liability
Debit GST-RCM-Output-CGST/SGST/IGST
Credit GST-e-Cash-Ledger-CGST/SGST/IGST
Debit GST-e-Cash-Ledger-CGST/SGST/IGST
Credit Bank
> Transferring to avail Input on RCM
Debit GST-RCM-Input-CGST/SGST/IGST
Credit GST-RCM-Deferred Input-CGST/SGST/IGST
Debit GST-RCM-Deferred Input-CGST/SGST/IGST
Credit GST-RCM-Output-CGST/SGST/IGST
> Payment of RCM Liability
Debit GST-RCM-Output-CGST/SGST/IGST
Credit GST-e-Cash-Ledger-CGST/SGST/IGST
Debit GST-e-Cash-Ledger-CGST/SGST/IGST
Credit Bank
> Transferring to avail Input on RCM
Debit GST-RCM-Input-CGST/SGST/IGST
Credit GST-RCM-Deferred Input-CGST/SGST/IGST
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Putting a heading on received mail
- Foreign lottery ticket bought online from India: legality, tax and consequences
- Gift Received from nonblood relative
- Reprocessing of rectification order AY 2025-26
- EXPORT BILL UNDER LUT FREIGHT CHARGE INCLUED IN INVOICE IT LIABLE TO TAX
- Section 50-fixed asset-->building ceases to exist
- Regime change
- Consolidated financials
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
