what should be the journal entry for refund of IGST(export) received ...?
please mention the ledger head with reference to tally.
Menu
entry of igst refund
Replies (6)
Booked Journal Entry
Bank A/C Dr
IGST Input Cr
Receive and Reverse the same to IGST paid head...
Here, debiting to ELECTRONIC credit ledger is nothing but reversal -
IGST reversal (grouped under indirect expenses).... Dr To the respective credit ledger say CGST/SGST/IGST ITC
While refund is received,
Bank....Dr
To GST refund received (grouped under indirect Income)
IGST reversal (grouped under indirect expenses).... Dr To the respective credit ledger say CGST/SGST/IGST ITC
While refund is received,
Bank....Dr
To GST refund received (grouped under indirect Income)
Bank a/c to IGST Receivable acc
| Originally posted by : Sundararajan S | ||
 |
Here, debiting to ELECTRONIC credit ledger is nothing but reversal - IGST reversal (grouped under indirect expenses).... Dr To the respective credit ledger say CGST/SGST/IGST ITC While refund is received, Bank....Dr To GST refund received (grouped under indirect Income) |  |
Mr. Sundarrajan S.,
At the time of Sales Invoice and Payments
How to enter the Details of IGST if it's Export...?
How to enter the Details at the time of Refund the amount...?
thank you everyone for your early response and obviously for your valuable help.
Recent Threads
- GSat on sale of assets
- 234 f penalty
- GST REGISTRATION FOR CARPENTER WORK
- Standard deduction for family pensioners
- Concerning tax savings or understanding the long-t
- F&O losses
- Is form 10 IE needed in this case?
- TDS on purchase of property more than 50 lakhs
- Withdrawal from post NSS
- Section 10(11) or 10(12) of exempted income
Related Threads
CAclubindia
