Help To Make A Rcm Gst Paid /Payable Entry In Tally Transactions Are Bellow

SUBRAMANYAM K
3 years, 3 months ago

Dear Sir / Madam

can any body help me...
1)Out put GST ( CGST & SGST ) @ 5% , 28 % ,18% ( When making sales inv Ledger Name in Tally )
2)In put GST (SGT & CGST) @ 14%,2.5%,6%,9%
3) IGST INPUT @12%,18%,28%,5%

Quary
1 )How pass a provision entry in Tally above Transaction
2) We had pad the GST above transactions ..how to make payment entry ( Dr...which Ledger..Cr ..Bank A /c)
3) If i do The provision Entry The above all transactions has to be nullified (JV)

Comments

1 Answer

Rahul Rai 3 years, 3 months ago

0

For accounting in journal entry, create 3 more ledgers. SGST Payable, CGST Payable and IGST Payable.

In respective liability and asset ledgers whatever balance you have at month end transfer to these 3 ledgers. Once you make payment these ledgers will become nill and your respective ledgers will also become nill.

Normally the entry will be:

CGST 6% output Dr. - 1000

SGST @6% Output Dr. - 1000

CGST 9% Input Cr - 500

SGST 9% Input Cr - 500

SGST Payable Cr - 500

CGST Payable Cr - 500

When you make payment:

SGST Payable Dr. - 500

CGST Payable Dr. - 500

Bank A/c - Cr. 1000