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RCM tax liability
sir if I purchase goods from URD dealer rs.2000 18 / tax cgst 9 and sgst 9 entry is made in purchase.what entry made for when tax liability for urd and input tax credit taken for urd.
Replies (2)
Journal Entries :-
Purchases a/c Dr.2000
To URD. 2000
CGST Credit -URD a/c Dr.180
SGST Credit -URD a/c. Dr.180
To CGST Payable. 180
To SGST Payable. 180
Purchases a/c Dr.2000
To URD. 2000
CGST Credit -URD a/c Dr.180
SGST Credit -URD a/c. Dr.180
To CGST Payable. 180
To SGST Payable. 180
Journal Entries :-
Purchases a/c Dr.2000
To URD. 2000
CGST Credit -URD a/c Dr.180
SGST Credit -URD a/c. Dr.180
To CGST Payable. 180
To SGST Payable. 180
Purchases a/c Dr.2000
To URD. 2000
CGST Credit -URD a/c Dr.180
SGST Credit -URD a/c. Dr.180
To CGST Payable. 180
To SGST Payable. 180
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