Journal entries on reversal charges(office rent)

This query is : Resolved

M.GURURAJU (Querist)
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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

Udaya Chandran

Udaya Chandran (Expert)
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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