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Transcript

Is Reverse Charge Output or Input Normal Case Normal Case + Reverse charge Purchase 120000 + 6000 GST Sales 100000 + 5000 GST Sales 100000 + 5000 GST Also there is Reverse Charge bill of 4000 Rev Charge Output & Input =4000*5%=200 Purchase 120000 + 6000 GST ( 5% GST ) 5000 Output on Sales Input on Purchase GST Payable GST Credit 0 6000 1000 Output on Sales Output Reverse Charge Total input 6200 Total Output 200 5200 Input on Purchase 6000 Input Reverse Charge 200 5000 GST Payable 200 1200 GST Credit First we pay Reverse Charge Output 200 Then we adjust Balance Output and Total Input 5000 −6200 = 1200 Credit

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.