Dear All,
After filing TRANS1 and GSTR3b, what accounting entries, we will have to pass in our books. Please help me on this.
1. I have a credit of 3Lakhs in my Elec Credit Ledger after submission of TRANS1
2. I have paid Rs. 29690.00 as RCM on Freight (GTA)
3. Offset CGST with CGST and IGST, and SGST with SGST and IGST
4. How to claim back Reverse Charge i have paid in CASH.
5. For VAT Paid Items, when will I get ITC in prapotion of 40% and 60%. Accounting Entries for same.
Amit Agrawal
CAclubindia
