prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 23 July 2020
First you have to book entry with Insurance claim A/c by crediting to P&L A/c for claim admitted by Insurance Company
1) when you received amount of Claim
Bank A/c Dr 54674 /-
To Insurance Claim A/c Cr 54674 /-
( Being amount received from Insurance company against claim )
Insurance claim under indirect income in P&L account
2) Repair & Maintenance A/c Dr
Input CGST A/c Dr
Input SGST A/c Dr
To sundry Creditors A/c Cr
( booking of maintenance & repair expense of Car )
3) sundry Creditors A/c Dr
To Bank A/c Cr
( Payment of expense )
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 23 July 2020
What is the depreciated value of the car ?
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
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