banner_ad

accounting treatment

This query is : Resolved 
Profile Image

Profile Image

(Querist)
20 January 2018 As a composition dealer when I purchased any goods with GST , then that GST pay by me where I shown as a balance sheet under duties & taxes or as an expense under profit and loss and also when I pay GST to govt. on my turnover basis then that GST payable entry where I shown? please reply.......
Profile Image

Gokul Sharma

Profile Image

Gokul Sharma (Expert)
20 January 2018 gst paid on purchase should be included in cost of purchase as you cannot take input credit on the same. and gst paid on turnover basis is your duties and taxes....should be grouped in expenses.
Profile Image

RAJA P M

Profile Image

RAJA P M (Expert)
20 January 2018 You will show the total bill value as Your Purchase value. No need split Basic and Tax values.
(As per CST Purchase - In Vat - Inter state)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 23 May 2026
Article Assistants

Acupro Consulting

Gurgaon

CA Inter

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details