For Table Number 3.1 / Column D
Current month credit values in RCM linked ledger accounts will be considered
ForTable Number 4/ Column 3
Previousmonth Debit values in RCM linked ledger accounts will be considered(E.g. If your filling returns for month of Aug 2017, Debit Value ofJuly 2017 will be considered as RCM input Credit.)
Ledger Account Creation and Voucher Posting Sample Entries
Wesuggest to create separate ledger accounts for RCM transactionentries for each GST Input and Output type under Duties & TaxesGroup and URD Purchase A/c under Purchase Expense.
(InputRCM Accounts are created to check total RCM Receivable & OutputRCM Accounts for payments RCM Payable)
E.g.
IGSTinput RCM A/c.IGST Output RCM A/c
CGSTinput RCM A/c.CGST Output RCM A/c
SGSTinput RCM A/c.SGST Output RCM A/c
CESSInput RCM A/c.CESS Output RCM A/c. and URD Purchase A/c.
AfterCreating ledger Accounts set GST type in GST Options >> GSTFunction1 >> Set GST type for A/c.
(AllOther regular GST Input accounts also needs to be linked in GST type)
ExampleVoucher Entries for transactions attracting RCM.
(TDS Not Applicable Entry)
EnterJournal Voucher in last date of July Month
Dr.Rent A/c…………………………. 20,000.00
Cr.SGST Output RCM A/c……………………………. 1800.00
Cr.CGST Output RCM A/c……………………………. 1800.00
Dr.SGST Input RCM A/c……………...1800.00
Dr.CGST Input RCM A/c……………...1800.00
Cr.Landlord A/c…………………………………….… 20,000.00
EnterJournal Voucher in July Month
Dr.Rent A/c…………………………. 20,000.00
Cr.SGST Output RCM A/c………………………. 1800.00
Cr.CGST Output RCM A/c………………………. 1800.00
Cr.TDS A/c………………………………………… 2000.00
Dr.SGST Input RCM A/c……………...1800.00
Dr.CGST Input RCM A/c……………...1800.00
Cr.Landlord A/c…………………………………..18,000.00
Note:A Payment Voucher to entered when payment of Rent is done.
PaymentVoucher (Entry date will be actual payment date of July Rent)
Dr.Landlord A/c…………………………18,000.00
Cr.Cash/Bank A/c……………………………………18,000.00
Dr.Transport Charges A/c………………………. 4,000.00
Cr.SGST Output RCM A/c……………………… 360.00
Cr.CGST Output RCM A/c………………………. 360.00
Dr.SGST Input RCM A/c……………...360.00
Dr.CGST Input RCM A/c……………...360.00
Cr.Cash / Bank A/c…………..………………….. 4,000.00
Customer can also check transactions of RCM Input and RCM Output in GSTOptions >> GST Function1 >> GST Reverse Credit Info.