Dear Sir,
few days ago in a night sunndly premise building,s roof poll down the goods and cause effect the goods.
please Suggest how to adjust the books. Goods under insurance.
Approximate Loss 28900
but insurance Pass 17900
how to pass the entry in Tally and how to reduce the stock in Tally
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Goods Damage due to poll and roof fell diwn
Replies (4)
Goods Destroyed Loss A/c Dr 11000/-
Insurance Claim A/c Dr 17900/-
To Purchase A/c Cr 23698/-
To Input CGST @ 9% A/c Cr 2601/-
To Input SGST @ 9% A/c Cr 2601/-
( Being Goods destroyed and Insurance claim admitted by Co )
When you received Insurance claim entry will be
Bank A/c Dr 17900/-
To Insurance Claim A/c Cr 17900/-
( Insurance amount received )
If GST claim as ITC , you must reverse the same ,however you have not mentioned any thing regarding GST in query , % , amount etc
Sir, how to pass GSt entry need to reverse Rs.5202
You can check 1 st J.E above , I have corrected the same ,hoping that Loss of rs 28900/- is inclusive of CGST -2601 and SGST 2601 - Total 5202 /-
You have to reverse in GSTR 3B if you have taken ITC , No ITC for Goods loos / Destroyed
Dear Sir , Loss of Rs. 28900 /- Is without GST.
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