Accounting entry in system for igst paid
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 December 2018
Dear Expert
we observe that most of company dot show IGST in case of export with payment as it refundable from gov & not recoverable from export purchaser party
is it correct i have doubt on this
we observe that most of company dot show IGST in case of export with payment as it refundable from gov & not recoverable from export purchaser party
is it correct i have doubt on this
CA ANUBHAV
(Expert)
02 December 2018
In my opinion open different accounts of IGST, CGST and SGST for credit and cash ledger. Once you will park entry for adjustment of output tax liability with ITC and then same would stand refundable from government in another entry.
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