RCM perfact entry
Denish Kaangariwala (136 Points)
21 July 2022
RCM ki entry kaise karte he gstr3b mein se kaise entry karte hai wo samaj nahi Raha he pls reply for perfect entry
3 Replies
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 21 July 2022
We will pass entry for Legal expenses paid to Advocate under RCM
You have to create ledgers, Input CGST RCM A/c , Input SGST RCM A/c , Out put CGST RCM A/c ,Out put SGST RCM A/c
1)
Legal Expenses A/c Dr
Input CGST RCM A/c Dr
Input SGST RCM A/c Dr
To Output CGST RCM A/c Cr
To Output SGST RCM A/c Cr
To Advocate A/c Cr
( payable under RCM )
2) payment entry under RCM
Output CGST RCM A/c Dr
Output SGST RCM A/c Dr
To Bank A/c Cr
( payment under RCM)
3) For input tax credit you pass entry
Input CGST A/c Dr
Input SGST A/c Dr
To Input CGST RCM A/c Cr
To Input SGST RCM A/c Cr
( entry for input tax credit under RCM )
4) Payment to Advocate entry
Advocate A/c Dr
To Bank A/c Cr
( payment to Advocate for legal expenses incurred )
Denish Kaangariwala
(136 Points)
Replied 21 July 2022
To apna RCM input hai wo khada rahega na assets side pe aur apne ko output side pe pay karne ka rahega na
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 21 July 2022
2 nd entry we pass for payment under RCM and 3rd entry pass for input tax credit under RCM.
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