In this topic we will discuss how to do entry of unregistered vendor.
📷
It means if we purchase from a vendor who has not GST number then how to do reverse charge entry for that.
LET US START
📷
First of all click on purchase type in master menu.
📷
Click on new.
📷
As the dealer do not has GST number therefore we fill here unregistered dealer. Now fill purchase type and select account. If the dealer is local then you can select local in region and if the dealer is out of state then select central in region. Now tick purchase from unregistered dealers. Now tick tax invoice in tax calculation. Thus if we purchase from unregistered dealer and pay the tax that tax is claimable. If we charge through reverse charge then that tax will claimable to us. Let us take example of scrap dealer. He mostly purchase from unregistered vendor and they has to pay during purchase. Thus he get that tax at the time of selling. Thus they will get tax credit.
The government has passed some agreement in which some trades do not implies input tax credit against the reverse charge. If we take freight service from an agency and we will do entry from unregistered vendor. We will not get claim of it. In that case we will get retail invoice. Thus if we get ITC then select tax invoice otherwise select retail invoice.
If we have to calculate IGST then select central. If we have to calculate SGST and CGST then select local in region. Now click on save.
Now after doing setting we will do purchase entry.
📷
Click on purchase.
📷
Click on new.
📷
Select date and term. Now press F3 to create a new account.
📷
Now fill supplier name and all detail of that supplier. Select within state in party type block. Now click on save.
📷
Now select this supplier in party block. Select unregistered dealer purchase in party type. The bill number, voucher number will be automatically selected. Now select item and fill the price of that item and the total amount will be automatically calculated. Now press enter.
📷
Now select other item and fill the price and quantity of item then press enter.
📷
Now we will select one more item and fill quantity & price of item then press enter.
📷
Now click on save.
Now we will check these entries effect in different reports.
📷
First of all click on day book in display menu.
📷
Thus it will display supplier entry. Your credit value will increase. It will automatically show IGST & cgst. You need not to do general entry and reverse charge entry separately.
Thus after doing master entry you can do purchase entry and can check cashbook, ledger etc.
📷
Now click on trading account in display menu.
📷
It will display the purchase entry. Suppose party give you bill of 500 rupees and tax implies on that bill.
Then you have to do entry of that bill to maintain ledger. Thus is will be time consuming in normal software. But in this software you need not to do this.
📷
Click on log book in display menu.
📷
Now select account and click OK.
📷
Thus software will display the purchase report.
📷
Now select purchase in account name.
Comments