We have purchased goods worth Rs. 100000 and out of which 10000 Rs. goods lost in Transit.
Kindly share accounting entry and treatment
Menu
Goods Purchased Lost in Transit
Replies (1)
Pass J. E
Goods lost in transit A/c Dr 10000
To purchase A/c Cr 10000
(being goods lost in transit )
No Input tax credit available for goods lost under section 17(5) (h) of the CGST act 2017 , if you have taken credit reverse the same
Recent Topics :
- Transport agency accounting entry in purchase &
- REGARDING HSN CODE FOR WASHING JOB CHARGES
- Advance Tax Due Date 2026
- Query – Interest on Capital Received by Part
- Query - Section 164(2)(a) – Interpretation o
- Submission for Expert Opinion on Rectification of
- NRI since March 2023 – resident savings acco
- My All-Time Top 15 Indian Web Series
- Wrong date of invoice
- Paper 6 - IBS
Related Topics :
CAclubindia
