ajay singh asked 6 years ago
RCM on Freight Paid
please give me an explanation regarding freight paid on transportation and how to make entry of reverse charge in tally. (registered transporter)
Answer the question1 Answers
Sachin Agrahari answered 6 years ago
Reverse charge on Freight is 5%
Entry in Tally for Reverse Charge as follows:
Freight A/c Dr. 100
Input Reverse Charge Charge A/c Dr. 5
To Party/Cash/Bank 100
To Output Reverse Charge Account 5
( Being reverse charge entry done)
