@ sreerangam
you have not mentioned anything regarding discount in query and same has been included in credit note .
Under GST law Supplier can only issue debit note & credit note for specific reasons as per section 34 of the CGST act 2017 . You can also issue financial Dedit note credit note for other reasons .
Entries in tally ERP 9
Page no : 2
subhagan sreerangam
(7054 Points)
Replied 17 November 2019
Do not ask the GST Rule,but asked only one matter such as how to the entries in tally ERP 9.Please give detailed narrations.
prasad Nilugal
(3914 Points)
Replied 17 November 2019
Sir , CGST & SGST are charged. in Invoice. then GST. law will applicable . Also this a case of post discount , and same. should. be excluded from taxable. value accordingly. you have do adjustments as per notification by CBIC for post sale discount .
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 November 2019
@ Mr Subhagan Sreerangam...
Yes... Your said entries are correct. But, Small correction itself
in Step 2 :
techno.... Rs. 5900
Cr. Computer purchase - 2000
Cr. Discount received - 3000
Cr. CGST - 450
Cr. SGST - 450...
The 2k directly reduced in computer value and 3k into income value...
as per above....
(note : ask Your query clearly. otherwise it's not good for single query but multiple confusion...)
GOOD LUCK
Yes... Your said entries are correct. But, Small correction itself
in Step 2 :
techno.... Rs. 5900
Cr. Computer purchase - 2000
Cr. Discount received - 3000
Cr. CGST - 450
Cr. SGST - 450...
The 2k directly reduced in computer value and 3k into income value...
as per above....
(note : ask Your query clearly. otherwise it's not good for single query but multiple confusion...)
GOOD LUCK
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 17 November 2019
@ Mr Prasad Nilugal Sir., Sorry for the inconvenience. But, As per accounting standards if Purchase/Sales accounted in a ledger then purchase/Sales return will be reversible same ledgers. Can't account in any other heads if it's not revresing the other than that... Am I right...? In case any misconduct then please ignore this... I say sorry once again...
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 17 November 2019
@ Dear Raja Sir
yes you are correct I know purchase / Purchase return & sales / sales return , However if see original query , he is asking only for Purchase entry & credit note entry .
He has mentioned in query " How to pass purchase entry & Credit Not entry in Tally Erp 9 ."
So purchase entry will be pass by Mahesh &co and credit note entry will be pass by Techno & co supplier .
subhagan sreerangam
(7054 Points)
Replied 17 November 2019
Ok thanks good luck Mr.Rajaji sir We will meat again in this platform .
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 18 November 2019
You are welcome Mr Subhagan sreerangam... Please write my as Raja... don't as Rajaji...🙏🙏🙏
Sivaramakumar
(GM-ACCOUNTS)
(142 Points)
Replied 18 November 2019
1) Computer A/c Dr 45000
Input CGST A/c Dr 4050
Input SGST A/c Dr 4050
To Techno System A/c Cr 53100
Credit note entry:
2 Computer A/c Cr 5000
Input CGST A/c Cr 450
Input SGST A/c Cr 450
To Techno System A/c Dr 5900
Recent Topics
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
