What do you mean by GST?

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• What is Reverse Charge Mechanism (RCM) and How to handle RCM on ADDA?

  Reverse charge is a mechanism where the recipient of the goods or services is liable to pay Goods and Services Tax (GST) instead of the supplier. Follow the steps below to handle RCM on ADDA: Step 1 - Create a GL "Tax Pain on RCM" under General ...

• How can I enable GST option for Adhoc Invoices?

  Ad-hoc invoices do not have the GST option enabled by default. If you wish to activate GST for these invoices, please follow the steps below: Login to ADDA ->> Admin ->> Income Tracker ->> Setup ->> GST ->> Enable the checkbox for "Post GST to all ...

• What is the Journal Entry to transfer SGST/CGST(Input/Output) to GST and also please show the GST remittance entry?

  Please login to Admin Dashboard>>Bank and Cash>>Taxes(To find the GST Payable amount). To pass journal entry, Login to Admin Dashboard>>General Ledger>>Journal Entries. Debit Credit 1) State GST A/c Input State A/c GST 2) Output State GST A/c State ...

• How can I post credit note with GST?

  A Credit Note can be posted in case you want to offer an incentive to members or you might want to correct an incorrectly levied charge. If you wish to post Credit Note with GST you will be able to post it only as an Account Specific Credit Note. ...

• If there is no output GST what will happen to Input GST, Where will this be accounted in ADDA and why?

  Though Input GST is a liability, it will not reflect in liability if there is no output GST, the input GST will be treated as expenses and moved to expenses. Note : This is only a suggestion. For Audit related Accounting clarifications, please ...