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Reverse charge on expenses accounting entries

Sameer (NA) (87 Points)

06 September 2017

Hi

plz help me for making accounting entries regarding reverse charge paid on URD purchases/expenses.

-Sameer

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Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 06 September 2017

Originally posted by : Sameer
	Hiplz help me for making accounting entries regarding reverse charge paid on URD purchases/expenses.-Sameer

Purchase/Expenses------------------------------------Dr. XXX IGST/CGST/SGST recoverable RCM @ _%------Dr. XXX To Suppliers XXX To IGST/CGST/SGST payble RCM @ _% XXX

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Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 06 September 2017

Purchase/Expenses---------------------------------------Dr. XXX

IGST/CGST/SGST recoverable RCM @ _%------Dr. XXX

To Suppliers XXX

To IGST/CGST/SGST payble RCM @ _% XXX

2 Like

Kaushik Deepak (KD) (Officer Accountant) (1136 Points)
Replied 06 September 2017

Purchase/Expenses--------------------------------------------Dr. XXX IGST/CGST/SGST recoverable RCM @ _%-------------Dr. XXX To Suppliers XXX To IGST/CGST/SGST payble RCM @ _% XXX

1 Like