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Repair and maintenance exp

8872 views 8 replies

Sir,

   Our company has a car repaired which parts of rs 10000/- whose gst rate of some parts 28% and some 18 % and labour charges 5000/- whose gst rate has charged 18 % . so plz guide me how would it be entry under accounting head Reapair and mentenance (indrect exp)

Replies (8)

Sir,

The entire amount has to be charged as expenses under the head repairs and maintenance. Varying GST rate does not affect the nature of expenses. 

Sir , How can we show Diffrent GST rate with single head repaier and maintenance exp. because Gst Head also is single . or Gst amount would be manullay typed .

You can type it manually sir. If required you can have the detail in narration.

Under section 17(5) restriction on availment of ITC is only in case of purchase of motor vehicle whereas there is no such restriction on repair and insurance on such motor vehicle.you can avail ITC of repair and maintenance of motor car if it's furtherance of business . 10000+5000 will be debited to the Repair and maintenance, GST will be debited to ITC claimed and credit to cash/bank/creditor
In GST we have different tax rates. So, we will enter in different tax heads...

You can prepare the journal entry as following...

Dr. Vehicle Maintenance A/c (28%) - XXX
Dr. Input CGST @ 14% - XXX
Dr. Input SGST @ 14% - XXX
Dr. Vehicle Maintenance A/c (18%) - XXX
Dr. Input CGST @ 8% - XXX
Dr. Input SGST @ 8% - XXX
Cr. Party A/c - XXX....

THANKS  ALL OF U

You are most welcome Mr Uday...

Respected Raja P M Sir.,

 

Why you show Two accounts head for same expenses...?

 


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