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Ajay Transport

Bill to My Co.

A LTD

Freight Charges

100000

TOTAL

100000

 

Suppose GST Rate is 5% (2.5% CGST, 2.5% SGST)

Entry

Case 1  

                Bill Received on 10 April

                Payment made on 29 April

-a-

No Input of Reverse Charge Input Available of Reverse Charge

10 April               

            Freight Exp Dr.   100000

               To Ajay Transport    100000

29 April

           Ajay Transport   100000

                          To Bank       100000

 

30 April

          Reverse Charge Exp Dr. 5000

                 To Output CGST         2500

                 To Output SGST         2500
                        (100000 ×  2.5%)

 

After paying GST

Output CGST Dr.   2500

Output SGST Dr.   2500

                      To Bank      5000

10 April               

                Freight Exp Dr.   100000

                        To Ajay Transport   100000

29 April

                Ajay Transport   100000

                                To Bank       100000

 

30 April

Input CGST (Deff) Dr.      2500

Input SGST (Deff) Dr.      2500

                To Output CGST                2500

                To Output SGST                2500

 

After paying GST

Output CGST Dr.   2500

Output SGST Dr.   2500

                      To Bank      5000

 

Input CGST Dr.   2500

Input SGST Dr.   2500

                To Input CGST (Deff)    2500

                To Input SGST (Deff)    2500

-ea-

Case 2

                Bill Received on 10 April

                Payment not made within 60 Dys

-a-

  No Input of Reverse Charge Input Available of Reverse Charge

10 April               

                Freight Exp Dr.   100000

                       To Ajay Transport    100000 

30 June

                Reverse Charge Exp Dr. 5000

                        To Output CGST         2500

                        To Output SGST         2500
                        (100000 ×  2.5%)

 

After paying GST

Output CGST Dr.   2500

Output SGST Dr.   2500

                      To Bank      5000

10 April               

                Freight Exp Dr.   100000

                        To Ajay Transport   100000 

30 June

Input CGST (Deff) Dr.      2500

Input SGST (Deff) Dr.      2500

                To Output CGST                2500

                To Output SGST                2500

 

After paying GST

Output CGST Dr.   2500

Output SGST Dr.   2500

                      To Bank      5000

 

Input CGST Dr.   2500

Input SGST Dr.   2500

                To Input CGST (Deff)    2500

                To Input SGST (Deff)    2500

-ea-

Case 3

               First Payment in Advance  on 25 April then Bill Received later on 18 june

-a-

No Input of Reverse Charge Input Available of Reverse Charge

25 April               

               Ajay Transport   100000

                                To Bank       100000

30 April

                Reverse Charge Exp Dr. 5000

                        To Output CGST         2500

                        To Output SGST         2500
                        (100000 ×  2.5%)

 

After paying GST

Output CGST Dr.   2500

Output SGST Dr.   2500

                      To Bank      5000

 

 

 

 

 

 

18 June   

              Freight Exp Dr.   100000

                       To Ajay Transport    100000

25 April               

               Ajay Transport   100000

                                To Bank       100000

30 April

Input CGST (Deff) Dr.      2500

Input SGST (Deff) Dr.      2500

                To Output CGST                2500

                To Output SGST              2500

 

After paying GST

Output CGST Dr.   2500

Output SGST Dr.   2500

                      To Bank      5000

 

Input CGST Dr.   2500

Input SGST Dr.   2500

                To Input CGST (Deff)    2500

                To Input SGST (Deff)    2500

 

18 June

               Freight Exp Dr.   100000

                       To Ajay Transport    100000

-ea-

  1. GST - Goods and Services Tax, India
  2. GST Computation & Accounting
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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 7 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
  • DEEKSHA V K's image

    Frieght charges in GST Purchase Exempted or taxable ?????

    View answer
  • Rohit jain's image
    Sir why 
            Reverse charge exp Dr
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    Hi
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    2) as for GSTR-3B I WILL HV TO FIRST CREATE AND pay challan for RCM  and GST PAYABLE (IF ANY) 

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    View answer
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    What does (deff)  means
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