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All QuestionsCategory: GST CompliancesRCM ON FREIGHT PAID
Profile photo of ajay singhajay singh asked 4 months 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)

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1 Answers
Profile photo of Sachin AgrahariSachin Agrahari Staff answered 4 months 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)