17 April 2020
Check the GSTR-2A .
If the counter party has sent GST through GSTR-2A ,you can get invoice details.
So you should Account for the accrued liabilities..
05 May 2020
I think the amount needs to be taken is inclusive of any GST as the amount of GST on the invoice is also a liability for us to pay as and when presented and when we are preparing Financial Statements it is better to have full picture so as to have a true and fair view of the financial positions of the business organisation as on a particular date. Excluding GST amount will not represent a true, fair and proper position of the business organisations.
13 May 2020
@Asha Kanta Sharma - You are right to say that the liability to pay to supplier is for Gross amount inclusive of GST. But provision for expenses is made for stating correct Profit/ Loss. The GST liability is not an expenditure as it can be availed as ITC. Secondly GST credit can not be availed and accounted for until inter alia two conditions are fulfilled i.e. 1. the goods or services have been received and 2. the invoice for the same is received It may be appreciated that the provision is made only where second condition is not fulfilled and therefore neither the GST can be recognised as expenditure nor the ITC could be recognised.
CAclubindia
