Our company purchases materials from Chennai and the dealers turn over is less than 15 lakhs per year, our purchase will be RS 30 000/- once in two months, we pay in cash,
what shall be our purchase book entries, cash book entries.
Please clarify,
With regards,
Asked 1 week, 2 days ago by RAMA CHANDER
First point, if you are purchasing from an unregistered dealer who is from Chennai, ask him to take registration as registration is compulsory for person making interstate outward supply.
You are located out of Chennai in that case you have to charge IGST on purchase from unregistered dealer and also make tax invoice on his behalf.
Invoicing is different from accounting.
You can read my article accounting under RCM.
Answered 1 week, 2 days ago by Pulkit Sharma
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- sale of goods to unregistered dealers.
- Reverse Charge
- Reverse charge credit adjustment entry
- How we can enter reverse entry
- GST rate of Transportation
- Purchase from Unregistered Dealer
- Place of Supply to Interstate Supplies on Ex-Works
- adhaar or pan no. from unregistered dealer
- HYDROGEN CYLINDER RENT
- gst on freight charged in invoice by wholesaler to retailer