Hi,
How to pass Branch transfer entries .
if we are tranfereting material with GST from our MH office to our Kerla Branch then what entry pass .
Thanks
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Branch transfer accounting
Replies (1)
This is an example gst charge @ 18% .you may charge applicbale Igst on rate of material
Kerla branch stock A/c DR 10000
IGST A/c DR 1800
To Goods sent to branch a/c CR 11800
( Being goods sent to kerla branch form maharashtra branch )
GST is applicable for stock transfer(Interstate) here IGST will be applicable as per section 7 of cgst act 2017
please confrim with others also
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