Dear Sir/madam,
What will be adjustment entries when goods sold under GST RCM ?
M/S KARMAKAR & ASSOCIATES
ABC Co A/c.....1,000/- Dr.
GST taxable A/c ....1,000/- Cr
(Goods sold under GST RCM Basis)
Bank A/c ---1000/-Dr.
ABC Co........1000/- CR.
(Received by Bank)
Q:****Is there any other addition entries or adjustment entries for that 18% GST liability for Rs.180/- paid by registered recipient in the books of M/S KARMAKAR & ASSOCIATES??
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