1) goods received from transport what is the journal entry make by supplier i.e. reverse charge entry how can pass,
2) what is transport charges exempt i.e. 1500 or 750 concept and who get this benefits
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reverse charge
Replies (2)
Freight inward Dr
To GTA. a/c. cr
RCM input A/c Dr.
To RCM payable A/c. Cr.
No RCM if bilty for 750/-single consignment (in 1 bilty)
No RCM if bilty for 1500/- more then one consignment (in 1bilty)
To GTA. a/c. cr
RCM input A/c Dr.
To RCM payable A/c. Cr.
No RCM if bilty for 750/-single consignment (in 1 bilty)
No RCM if bilty for 1500/- more then one consignment (in 1bilty)
750 / 1500 concept supplier who can receive goods applicable?
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