Dear Sir,
We are manufacturing concern and registered under GST, for our need we import some material from abroad. The goods which are import can we treat as normat purchase, how to pass the entries in book, where it will be shown in GST return.
IGST will be paid as RCM on Imported Goods, Please advise. Thanks
Sir igst ka leder under kya hoga aur IGST KA REFUND ENTRY KAISE HOGA AUR UNDER KAUNS ALEDGER
Dr. Purchase
Dr. Igst
Dr. Foreign translation loss ( or credit gain)
Dr. Import charges
Cr. Supplier
Cr. TDS if applicable
Cr. Payables
VNSS & Co
Mumbai
Others
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CCI
Pro
CAclubindia
