Journal entry in case of rcm

This query is : Resolved

CA Ankith Jain (Querist)
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24 February 2016 Dear all, please help me out regards how to pass the journal entries in books of service receiver, where 100 RCM is involved.

Ganeshbabu K

Ganeshbabu K (Expert)
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24 February 2016 For 100% Reversecharge:-

Dr.Expense
Dr.Service tax deferred input credit RCM a/c
Dr.Swach bharat cess
Cr.Vendor
Cr.TDS payable
Cr.ST Payable -RCM

Payment of RCM ST

Dr.ST Payable -RCM
Cr.Bank a/c

Taking actual creit after payment of RCM

Dr.Service tax Input credit -RCM
Cr.Service tax deferred input credit RCM a/c