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reverse charge

RCM 112 views 2 replies

TARUN DAS

170 Points Joined October 2017

1) goods received from transport what is the journal entry make by supplier i.e. reverse charge entry how can pass,
2) what is transport charges exempt i.e. 1500 or 750 concept and who get this benefits

Replies (2)

Pankaj Rawat

GST Practitioner

55067 Points Joined June 2017

Freight inward Dr
To GTA. a/c. cr

RCM input A/c Dr.
To RCM payable A/c. Cr.

No RCM if bilty for 750/-single consignment (in 1 bilty)
No RCM if bilty for 1500/- more then one consignment (in 1bilty)