URGENT HELP REQUIRED FOR Stock Loss on Job Working entry in Tally

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Account Assistant
90 Points Posted on 13 April 2022
Please let me inform how to pass an entry in tally for loss of stock with job worker during the job work process. Also let me inform if there is any reversal of GST on the loss of the said stock. if so then what will be the entry in tally.
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On 13 April 2022 at 11:33 Report
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This discussion addresses how to accurately record stock loss incurred during the job work process in Tally. The recommended method involves passing a stock journal entry, specifically debiting the consumption side with the basic value of the lost stock. It clarifies that GST reversal is not applicable in such scenarios. For normal losses during production, input tax credit (ITC) can be claimed.

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Profession
28261 Points Posted on 22 April 2022
Gst reversal is not applicable.
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On 22 April 2022 at 07:29
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Accounts & Finance Professional
19 Points Posted on 05 December 2022

Just put that stock basic value in stock journal on CONSUMPTION side. 

And for normal loss/during production you can take ITC . 

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On 05 December 2022 at 21:02
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2 Points Posted on 09 December 2022

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On 09 December 2022 at 18:12

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