Dear sir,
I want to know that how will create tax invoice for without GST purchasing (RCM ). What is the accounting procedure rcm purchase?
Regards
Bhojraj
Hello,
A Tax invoice for self will be created.
For entry you will do as follows:
1.) Mr. A Dr. 10000
RCM GST Dr. 1000
To BANK A/c 10000
To RCM Payable Cr. 1000
2.) RCM Payable Dr. 1000
To Bank A/c Cr. 1000
3.) Input GST A/c Dr. 1000
To RCM GST A/c Cr. 1000
Please do rectify if you find these wrong.
CAclubindia
