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Frieght payable and vehicle charges payable
goods are dispatched from Daman before 31.3.22 and arrived at Kolkata after 1.4.22 but freight is paid after 31.3.22 and the vehicle charges, then is it essential to pass entry for frieght and vehicle charges in books for 21-22
Replies (7)
Could you please reply my query in forum @ MPR Sanjay Kumar
Yesterday query was for fright payable but couldn't ellaborste in right way please excuse
Plse verify it is correct or not
I purchased Rs 10,000 worth of goods in Tally books entry having with To and by describes
eg:By Purchase a/c Dr
To Cash a/c
2). I made sales RS 5000
By cash a/c Dr
To sales a/c cr
I purchased Rs 10,000 worth of goods in Tally books entry having with To and by describes
eg:By Purchase a/c Dr
To Cash a/c
2). I made sales RS 5000
By cash a/c Dr
To sales a/c cr
Reply to Mr Sanjay Kumar
Above entries are correct , if Cash purchase and sale using By and To
By Debiting the account and To Crediting the account
As frieght paid in 22-23 attracts RCM, then how to pass entry.
Why freight paid attracts rcm ? does It violate the cgst rules as mentioned therein?
Yes, RCM will be applicable in FY 2022-23 on the freight paid.
You can take the ITC against the GST paid under the RCM.
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