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Reverse charge entry in tally
Hi am paying transporting charges inward for which reverse charge @ 5 % is applicable. Please let me know jounal entries to be made in tally
Replies (4)
Transport Charges A/c Dr
To Transporter
Transporter A/c Dr
To Bank
GST under RCM A/c
To Bank
To Transporter
Transporter A/c Dr
To Bank
GST under RCM A/c
To Bank
Gst under rcm to be separately charged.
Query is about RCM on inward supply and not about sale
Rcm does not define under any ACT.
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