Whether Payment for Supplies can be made by Book Adjustments for availing ITC

Udaya Chandran , Last updated: 14 November 2021 Share Follow on Google News

There has been a confusion among the dealers whether the consideration for supplies can be paid by book adjustments under GST Act. In many businesses, the dealers buy and sell goods or services from one another for which they dont make payment in cash rather they adjust the book entries for such pur

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About the Author

Udaya Chandran

Manager - Accounts & Taxation

Im a Post graduate in Commerce. At present, Im working in a Private Limited Company as a Manager for Accounts Department and also giving GST consultancy service. I have 19+ years of experience in Accounting, Auditing Taxation. Contact for GST Consultation Return filing Please mail me at: Email: uday.gstguide @ ... Read more

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Whether Payment for Supplies can be made by Book Adjustments for availing ITC

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