PANKAJ JHA (accountants) (52 Points)
22 June 2022please suggest me
I have received bill from GtA rs. 30000/- date 31st May, 2022.....please confirm me journal entry of RCM & to take ITC in which month 3B (May or June)
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 22 June 2022
RCM entry
Transport Charges A/c Dr
Input CGST RCM A/c Dr
Input SGST RCM A/c Dr
To Out put CGST RCM A/c Cr
To Out put SGST RCM A/c Cr
To Goods Transport Agency A/c Cr
( Transport Charges Payable under RCM )
........................................
RCM payment entry
Out Put CGST RCM A/c Dr
Out Put SGST RCM A/c Dr
To Bank A/c Cr
( RCM payment made )
..............................
PANKAJ JHA
(accountants)
(52 Points)
Replied 22 June 2022
Rajendra Prasad
(Employee Private)
(1842 Points)
Replied 22 June 2022
You are filing the return for the month of May in June and making payment of RCM liability in cash along with availing the same as Input Credit. While you are availing ITC, there is payment of GST in cash for RCM liability, which is crediting to you input Credit ledger.
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 22 June 2022
prasad Nilugal
( GST Practitioner & Accounts )
(14546 Points)
Replied 22 June 2022
Sandeep Jain
(Pivate)
(1412 Points)
Replied 22 June 2022
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