How we can enter reverse charge while taking purchase invoice in software
I have explained the accounting of tax paid under RCM in article. You can read the article and in case of any further doubts please comment.
In principle, this tax amount generally needs to be recorded simultaneously as tax payable and—subject to eligibility—as deductible input VAT. The specific accounting treatment depends on the chart of accounts and the software used by the enterprise. Basketball Stars
JOIN LARGEST DISCUSSION PLATFORM
Sign up to discuss taxation, accounting and finance topics with experts from all over India.
Join Discussion
