OVERVIEW OF GST EXPENSE ENTRY IN MARG BOOKS
PROCESS TO CREATE GST EXPENSE ENTRY IN MARG BOOKS
In order to know the process, the user needs to follow the given steps:
a. Ledger Name: Firstly the user will mention the name of the expense as per the requirement.
b. Account Group: The user will select the account group of the ledger as per the requirement so fro that press 'Space Bar' key .
c. GST applicable: The user will select that whether GST need to be charged on the selected expenses not.
1. Applicable: Select if GST must be applicable on the selected expense .
2. Not Applicable: Select if GST should not be applicable on selected expense .
3. Non GST: Select if the selected expense needs to be exempted from the criteria of tax.
However, in case of GST expense entry, the user will select 'Applicable'.
d. HSN /SAC Code: The user will select the HSN/SAC code of the selected expense.
e.Tax % Type: The user will select the tax slab rate of the selected expense.
Suppose select 'GST sale- 18%'.
f. ITC availability: The user will select the option as per the requirement.
1. Input Service:
2. Capital Goods:
Suppose select 'Input Service'.
g. Reverse Charge: The user will select the option as per the requirement.
2. Service Import:
Suppose select 'Compulsory'.
After following the above steps, the GST Expense entry will get saved into the records.