Dear sir, We had agreement with one of our client that got cancelled for some reasons. Whatever amount we paid them including GST they reversed us back full amount so how do I show that entry in tally. Need help
2 Replies
sabyasachi mukherjee
(27750 Points)
Replied 02 March 2021
Please pass the entry when you booked the bills .
Show input tax credit for gst as mentioned in the bills.
Show input tax credit for gst as mentioned in the bills.
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 02 March 2021
I think the entry might be
CGST Refund Receivable A/c _____________ Dr.
SGST Refund Receivable A/c _____________ Dr.
IGST Refund Receivable A/c _____________ Dr.
To CGST Input Credit A/c (unutilized input credit)
To SGST Input Credit A/c (unutilized input credit)
To IGST Input Credit A/c (unutilized input credit)
CGST Refund Receivable A/c _____________ Dr.
SGST Refund Receivable A/c _____________ Dr.
IGST Refund Receivable A/c _____________ Dr.
To CGST Input Credit A/c (unutilized input credit)
To SGST Input Credit A/c (unutilized input credit)
To IGST Input Credit A/c (unutilized input credit)
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