Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Claims under gst

02 August 2017

Sir

I am a fmcg distributor. I make display payments to my unregistered dealer .now co. Is saying to raise claim by issuingg gst invoice by adding 18 % gst on original amount. On reverse charge mechanism . Any one suggest what will be the journal entries. And how i claim the input how to upload in gst portal.

Ex amout is rs 10000 gst on it is rs 1800.

Thanks

Tushar

Reply
Follow
Share

18 Replies

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 02 August 2017

please reframe your query.

Upgrade to CAclubindia Pro. Subscribe Now!

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 02 August 2017

entry of payment -

1. display charges a/c Dr. 100000
to unregistered dealer. 100000
2. unregistered dealer a/c Dr 100000
to cash a/c. 100000

entry for tax on rcm-
1. input gst @ 18%. 1800
to. GST Payable on RCM @ 18% 1800
2. GST Payable on RCM @ 18%. 1800
to cash. 1800

wherever I have written gst you should put appropriate tax name....if interested sale than put igst.....if intra state than instead of one entry do two separate entry of half amount each...one for cgst and one for sgst

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 02 August 2017

@ Tushar Tulsian.,
Why not you can't prepare self invoice...?
The self invoice also cleared your doubt....
Self Invoice :
Dr. expenses - XXXXXX
Dr. CGST - XXXXXX
Dr. SGST - XXXX
Cr. Creditor Name....
These going taxation simple.....

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 02 August 2017

@ Dear Akhilesh Kumar Kandpal.,
I accept your above reply. But, Not accept last few lines like IGST.....
bcoz,....

Tushar Tulsian (124 Points)
Replied 02 August 2017

I had made payment to unregistered dealer say 10 shopkeepers rs 1000 each Total amout rs 10000 I had taken signature from them on dispaly receipt voucher Now i have to claim it from company which is registered intera state sgst and cgst apply for whom i am its distributor 1 .entry Dispaly charges A/c dr. 10000 To cash a/c 10000 What will Be the entry to raise cliam from the co.

Upgrade to CAclubindia Pro. Subscribe Now!

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 02 August 2017

@ raja....what is wrong with that?

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 02 August 2017

Sir.,
Why you refer IGST...?

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 02 August 2017

You are distributor of FMCG. You must be purchasing goods from Super Stockiest and selling to wholesellers/Retailers.

Now, I cant understand why you made payment to 10 shopkeepers?
I cant understand what display receipt is?

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 02 August 2017

my last para is general para......not specific to this transaction but in general it is efficient to make separate account of each tax.

Tushar Tulsian (124 Points)
Replied 02 August 2017

Retailer are shopkeeper

Upgrade to CAclubindia Pro. Subscribe Now!

Vinay Garg (Student cum businessman cum professional) (859 Points)
Replied 02 August 2017

You sale your goods to shopkeepers and instead of recieving cash/cheque, you pay them?

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 02 August 2017

Sir.,
(1. input gst @ 18%. 1800
to. GST Payable on RCM @ 18% 1800
2. GST Payable on RCM @ 18%. 1800
to cash. 1800)
these means received from URD then follow above entries. am I right...?

CA Akhilesh Kumar Kandpal (Proprietor A K Kandpal & Associates) (1442 Points)
Replied 02 August 2017

@ tushar....
company a/c Dr. 11800
to reimbursement of display exp a/c. 10000
to output gst @ 18%. 1800

Tushar Tulsian (124 Points)
Replied 02 August 2017

It ok i understand it my query is when i raise claim what will be the journal entry May be like this Company a/c dr 10000 Sgst 900 Cgst 900 To display A/c 10000 Please complete the entry